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Tercer reports the following for one of its products. Direct materials standard (4 lbs. @...

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Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $3 per lb.) Actual finished units produced Actual cost of direct materials used $ 12 per finished unit 90,000 units $1,100,000 Compute the total direct materials cost variance and classify it as favorable, unfavorable or no variance. Direct materials cost variance

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