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What is the materials quantity variance

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Problem - Thomas Company uses a standard cost system and recognizes the materials purchase price variance at the time materials are purchased. Information for raw materials for Product RBI for the month of October follows:

Standard unit price $1.80

Actual purchase price per unit $1.65

Actual quantity purchased 4,000 units

Actual quantity used 3,900 units

Standard quantity allowed for actual production 3,800 units

What is the materials quantity variance?

Reference no: EM131737425

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