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A company uses the following standard costs to produce a single unit of output. During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct materials price variance for the month was:
U.S. Companies
Businesses that are registered, operate, or are headquartered in the United States.
Business Failure
The cessation of operations and the closing of a business due to its inability to make a profit or cover its expenses, leading to financial losses for owners and investors.
Business Termination
When a business ceases operation for any reason.
Manufacturing Industry
The sector of the economy that is involved in the production of goods using raw materials and machinery.
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