10. Oriole Industries uses a standard cost system in which direct material is carried at...
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10. Oriole Industries uses a standard cost system in which direct material is carried at standard cost. Oriole has established the following standards: standard quantity of 10 pounds per unit, standard price $1.80 per pound. During January, Oriole purchased 168,000 pounds of direct material at a cost of $320,000 and used 195,500 pounds in production of 20,300 units. Calculate the direct materials quantity variance and indicate whether the variance is favorable or unfavorable
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