The ABC Company has a standard cost system. In July the company purchased and used...
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Accounting
The ABC Company has a standard cost system. In July the company purchased and used 20,000 pounds of direct material at an actual cost of $66,000; the materials quantity variance was $1,400 Unfavorable; and the standard quantity of materials allowed for July production was 19,300 pounds. Determine the materials price variance for July
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