Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows: Actual costs 1,550 lbs. at $9.10 Standard costs 1,600 lbs. at $9.00 Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance. Enter favorable variances as negative numbers. a. Quantity variance $ b. Price variance $ c. Total direct materials cost variance $
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