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Title: Nantucket, Inc. uses a standard cost system in which direct materials are carried at standard cost. ... Post by: jugganuts on Jan 22, 2023 Nantucket, Inc. uses a standard cost system in which direct materials are carried at standard cost. Standards for one unit of product are: standard quantity of 2 feet, standard price $1.50 per foot. During May, Nantucket purchased 16,000 feet of direct material at a cost of $30,000 and used 15,500 feet in production of 7,500 units.
Required: Calculate the direct materials price and quantity variances and indicate whether the variances are favorable or unfavorable. Title: Nantucket, Inc. uses a standard cost system in which direct materials are carried at standard cost. ... Post by: karatins on Jan 22, 2023 Content hidden
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