Cabot Company collected the following data regarding production of one of its products. Compute the direct materials cost variance. 
Definitions:
Decision Trees
A graphical representation used for decision-making, showing various outcomes from a series of related choices, helping to weigh options and possible consequences.
Decision Tables
A tool used in both computer programming and business decision-making that represents the logic of decision making through a matrix of conditions and the actions to be taken.
Conditional Value
A numerical value assigned to an outcome in a decision-making process, dependent on specific conditions being met.
Optimistic Decision
A decision-making approach that involves choosing the option with the most favorable possible outcome under uncertain conditions, assuming the best-case scenario.
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