Question: Kraft adopts a standard cost system, which specifies that each product uses a standard of 1 pound direct materials and direct materials' standard price is

Kraft adopts a standard cost system, which specifies that each product uses a standard of 1 pound direct materials and direct materials' standard price is 26$ per pound. Kraft produced 4,750 units of products in may. In that month 4970 pounds of direct materials were and used at the total cost of $137000. Calculate the direct materials quantity variance.

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