During the latest month, the company purchased and used 46,000 pounds of direct materials at...
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Accounting
During the latest month, the company purchased and used 46,000 pounds of direct materials at a price of $0.90 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $41,310 based on 4.860 direct labor hours worked Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $17,000. Based on this information, the direct materials price variance for the month was
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