Variance analysis material and labor each unit of job y703, Ask an Expert

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Variance analysis, material and labor Each unit of job Y703 has standard requirements of 5 pounds of raw material at a price of $100 per pound and 0.5 hour of direct labor at $12 per hour. To produce 9,000 units of this product, job Y703 actually required 40,000 pounds of the raw material costing $97 per pound. The job used a total of 5,000 direct labor hours costing a total of $60,000.

Required
(a) Determine the material price variance for job Y703.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9412947

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