I-Time, Inc., produces electronic timepieces. The company uses mini-LCD displays for its products. Each timepiece uses one
Question:
I-Time, Inc., produces electronic timepieces. The company uses mini-LCD displays for its products. Each timepiece uses one display. The company produced 550 timepieces during March. However, due to LCD defects, the company actually used 570 LCD displays during March. Each display has a standard cost of $9.20. Six hundred LCD displays were purchased for March production at a cost of $6,000. Determine the price variance, quantity variance, and total direct materials cost variance for March.
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