Estimating materials price variance

Reference no: EM13144973

A company has a standard cost system. In July the company purchased and used 22,500 pounds of direct material at an actual cost of $53,000; the materials quantity variance was $1,875 unfavourable; and the standard quantity of materials allowed for July production was 21,750 pounds. The materials price variance for July was?

Reference no: EM13144973

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