Information on fleming companys direct material costs, Ask an Expert

Accounting

Information on Fleming Company's direct material costs follows:

Actual amount of direct materials used 20,000 pounds
Actual direct material costs $40,000
Standard price of direct materials $2.10 per pound
Direct material efficiency variance--favorable $3,000

What was the company's direct material price variance?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M970105

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