Lucy Corporation purchased and used 70,000 board feet of lum…
Lucy Corporation purchased and used 70,000 board feet of lumber in production at a total cost of $1,050,000. Original production had been budgeted for 15,000 units with a standard materials quantity of 5 board feet per unit and a standard price of $15.50 per board foot. Actual production was 14,000 units.The direct materials price variance is
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