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A company purchased 10,000 pounds of raw materials at a cost of $2.50 per pound....

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Accounting

A company purchased 10,000 pounds of raw materials at a cost of $2.50 per pound. However, the standard price per pound was $2.00. 1. Calculate the direct materials price variance. 2. Determine if this is favorable or unfavorable and explain why. 3. Explain why this is important for raw materials purchasing. Upload your MS Word file using the following naming protocol

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