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What was the direct materials price variance

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Reference no: EM132548296

The Manuel Company is assessing its material purchases for the past fiscal year. Manuel produces aluminum wheels and buys aluminum in pounds. The Company reported the following information:

Standard Materials Used 8,000 pounds

Actual Materials Used 9,000 pounds

Standard cost per pound $8

Actual cost per pound $7

Question 1: What was the direct materials price variance?

Reference no: EM132548296

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