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How much is the materials price variance

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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.

Problem 1: How much is the materials price variance (no sign if unfavorable, negative if favorable)?

Reference no: EM132776994

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