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Amos, Inc. uses a standard cost system in which direct materials are carried at standard cost. ...

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Amos, Inc. uses a standard cost system in which direct materials are carried at standard cost. ...

Amos, 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 8-1/2 gallons and standard price $1.85 per gallon. During March, Amos purchased 150,000 gallons of direct materials at a cost of $300,000 and used 150,500 gallons in production of 18,000 units.

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Calculate the direct materials price and quantity variances and indicate whether each variance is favorable or unfavorable.

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Managerial Accounting

Edition: 4^th

Author: Davis

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