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How much is the direct materials price variance

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Reference no: EM131582956

Question - Jackson Industries has collected the following data for one of its products:

Direct materials standard (6 lbs per unit at $0.55/lb): $3.30 per finished good

Actual direct materials purchased: $38,000 lbs

Actual Direct Materials Used (AQU): 35,000 lbs

Actual Price (AP) paid per lb: $0.60

How much is the direct materials price variance?

Reference no: EM131582956

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