What is the materials price variance

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Question - Assume the following:

The standard price per pound is $2.00.

The standard quantity of pounds allowed per unit of finished goods is 4 pounds.

The actual quantity of materials purchased and used in production is 50,200 pounds.

The actual purchase price per pound of materials was $2.25.

The company produced 13,000 units of finished goods during the period.

Required - What is the materials price variance?

Reference no: EM133173548

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