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How much is the direct materials price variance

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Reference no: EM132528262

Yama Industries has collected the following data for one of its products:

Direct materials standard (6 pounds per unit @ $0.55/lb.): $3.30 per finished good

Actual direct materials purchased: $38,000 pounds

Actual Direct Materials Used: 35,000 pounds

Actual Price paid per pound: $0.60

Question 1: How much is the direct materials price variance?

Reference no: EM132528262

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