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How much is the materials price variance

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Question - Edgar, Inc. has a materials price standard of P2.00 per pound. Six thousand pounds of materials were purchased at P2.20 a pound. The actual quantity of materials used was 6,000 pounds, although the standard quantity allowed for the output was 6,400 pounds. How much is the materials price variance (no sign if unfavorable, negative if favorable)?

Reference no: EM132855040

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