Auto Suppliers Inc. provides the following standard and actual costs for direct materials to produce 3,000 units of product: Standard and Actual Costs Data Quantity for actual production Price per lb. Standard 2,100 lbs. $5.70 Actual 2,900 lbs. $5.20 Determine the direct material cost variance. Group of answer choices -$3,110 favorable $3,110 unfavorable $4,560 unfavorable -$4,560 favorable

Auto Suppliers Inc. provides the following standard and actual costs for direct materials to produce 3,000 units of product: Standard and Actual Costs Data Quantity for actual production Price per lb. Standard 2,100 lbs. $5.70 Actual 2,900 lbs. $5.20 Determine the direct material cost variance. Group of answer choices -$3,110 favorable $3,110 unfavorable $4,560 unfavorable -$4,560 favorable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Data	Quantity for actual production	Price per lb.
Standard	2,100 lbs.	$5.70
Actual	2,900 lbs.	$5.20

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