Reference no: EM132540922

Question - The Bogomil Company developed the following standards for the manufacture of its product:

Each unit should have 3 pounds of direct materials purchased at $10 per pound.

Each unit should be produced in 5 hours at a direct labor cost of $15 per hour.

Actual production was 320,000 units using 62,300 pounds of direct materials at a total cost of $8,430,100 and required 9,400 direct labor hours at a total cost of $18,910,300. What was the direct materials "total" variance? Use a positive number to indicate a favorable variance or a negative number to indicate an unfavorable variance.