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What is the direct materials price variance

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Question - Bellingham Company produces a product that requires seven standard pounds per unit. The standard price is $5 per pound. If 6,300 units used 42,300 pounds, which were purchased at $5.2 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Reference no: EM132837814

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