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How do find what is the direct material price variance

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Reference no: EM132741296

A company provides the following data for material costs:

Standard cost per unit 3 pounds at $2 per unit

Actual cost per unit 2.5 pounds at $3 per unit

During the month, 5,000 pounds of raw materials were purchased.

Problem 1: What is the direct material price variance?

Reference no: EM132741296

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