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What is armstrongs direct material price variance

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Question - The armstrong corporation developed a flexible budget for its production process. Armstrong budgeted to use 13,000 pounds of direct material with a standard cost of $13 per pound to produce 12,000 units of finished product. Armstrong actually purchased 19,000 sounds and used 16,000 pounds of direct material with a cost of $18 per pound to produce 12,000 units of finished product. Given these results, what is Armstrongs direct material price variance and is it favorable or unfavorable?

Reference no: EM132097740

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