Direct Materials Variances Venneman Company produces a product that requires 1 1 standard pounds per unit. The
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Direct Materials Variances
Venneman Company produces a product that requires standard pounds per unit. The standard price is $ per pound. If units required pounds, which were purchased at $ per pound, what is the direct materials a price variance, b quantity variance, and c total direct materials cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
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