Phelps Gold manufactures award medals. In August, Phelps produced 5,720 medals, 170 more than expected....
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Phelps Gold manufactures award medals. In August, Phelps produced 5,720 medals, 170 more than expected. During the month, the company purchased 1,440 ounces of gold for $1,190,000. The standard price for the gold is $834 per ounce. The company actually used 1,241 ounces of gold for production.
Calculate Phelpss direct materials price variance for the month
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