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What is the direct materials price variance

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Problem - Primm Company produces a product that requires four standard gallons per unit. The standard price is $24.50 per gallon. If 2,500 units required 10,600 gallons, which were purchased at $23.75 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance?

Reference no: EM132883764

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