Parallel Enterprises has collected the following data on one of its products. During the period...
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Accounting
Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units.
| Direct materials standard (7 pounds @ $2.20/pound) | $ 15.40 | per finished unit |
|---|---|---|
| Actual cost of materials purchased | $ 361,700 | |
| Actual direct materials purchased and used | 154,000 | pounds |
Calculate the direct materials price variance
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