Question: You will use this information for the next four problems. Using the information from the table, what is the direct materials price variance? Please enter
You will use this information for the next four problems. Using the information from the table, what is the direct materials price variance? Please enter a positive number for your answer. You are not required to indicate whether the variance is favorable or unfavorable $10/unit Budgeted direct materials (standard) (5 lbs @ $2/16) 500,000 lbs Actual direct materials used 110,000 units Actual Units $1,250,000 Actual cost of direct materials used $20/unit Budgeted direct labor (standard) (2 hours @$10/hour) 225,000 hours Actual direct labor hours $2,700,000 Actual cost of direct labor 100,000 Budgeted units $50 Budgeted selling price $65 Actual selling price
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