Use the following performance report for a cost center of the Dry Cat Food Division for the month ended December 31 to answer the questions below. 
-Using the information provided for Dry Cat Food division,what is the direct materials variance between the actual results and the flexible budget?
Definitions:
Monopolistically Competitive
A market structure where many companies sell products that are similar but not identical.
Monopolies
Market structures characterized by a single seller controlling a large portion of the market and the lack of viable competition.
Long-run Equilibrium
A state in which all factors of production and market forces are in balance, with no external pressures prompting change.
P = MR
An equality indicating that a firm's price (P) is equal to its marginal revenue (MR), often associated with perfect competition and profit maximization strategies.
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