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You have developed the following standard costs for direct material and direct labor for your...

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Accounting

You have developed the following standard costs for direct material and direct labor for your product. In 2019, you estimated the following standard costs for one of your products, the 10-gallon cowboy hat.

Budgeted quantity Budgeted price

Direct materials 0.10 yards $60 per yard

Direct labor 0.05 hours $30 per hour

During June, you produced and sold 5,000 hats using 620 yards of direct materials at an average cost per yard of $64 and 1,000 direct manufacturing labor-hours at an average wage of $30.50 per hour.

June's direct material flexible-budget variance is ________.

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