Tip top corp produces a product that requires 14 standard

Reference no: EM13572396

Tip Top Corp. produces a product that requires 14 standard gallons per unit. The standard price is $6.00 per gallon. If 3,500 units required 51,000 gallons, which were purchased at $5.70 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Use the minus sign to enter favorable variances as negative numbers.

Reference no: EM13572396

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