a. What are the two variances between the actual cost and the standard cost for direct materials?

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a. What are the two variances between the actual cost and the standard cost for direct materials?
b. Discuss some possible causes of these variances.

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Financial And Managerial Accounting

ISBN: 9781337119207

14th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: Sep 05, 2011 07:48 AM

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a. What are the two variances between the actual cost and the standard cost for direct materials?

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a The price variance is the result of a difference between the actual price and the ...View the full answer

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