Direct materials variances

Direct materials variances

Direct materials variancesThe following data relate to the direct materials cost for the production of 4,000 automobile tires:Actual: 72,500 lbs. at $3.30Standard: 75,160 lbs. at $3.15a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.b. To whom should the variances be reported for analysis and control?

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