Luma Inc. has provided the following data concerning one of the products in its standard cost system.
The company has reported the following actual results for the product for September:
-The raw materials price variance for the month is closest to:
Definitions:
Raw Metal
Unprocessed metal in its natural state, not yet altered by machining, shaping, or any form of treatment for use in manufacturing.
On-premise CRM
Customer Relationship Management software hosted and maintained on the premises of an organization, as opposed to being cloud-based.
Vendor
A business or person that sells products or services to another entity, often within a supply chain.
Installed
The state of having been set up for use or operation, as in software being loaded onto a computer or a device being placed into its operational setting.
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