Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,610 pounds of material at $5.40 and standard costs for 4,430 pounds of material at $6.00 per pound. The direct materials quantity variance is
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Given: Actual quantity used = 4610 pounds Actual cost per pound = $5.40 Actual cost = Actual quantity used * Actual cost per pound Actual cost = 4610 * $5.40 Actual cost = $24,894 Show more…
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