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Discuss what is the direct materials price variance

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XYZ Co. has a material standard of 2 pounds per unit of output. Each pound has a standard price of $12 per pound. During February, XYZ Co. paid $57,220 for 4,840 pounds, which were used to produce 2,400 units. What is the direct materials price variance?

$1,420 favorable

$1,420 unfavorable

$860 unfavorable

$860 favorable

Reference no: EM131764713

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