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The following Materials Standards have been established for a particular product: Standard Quantity per...

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Accounting

The following Materials Standards have been established for a particular product:

Standard Quantity per unit of output 5.6 meters

Standard Price 18.20 per meter

The following data pertain to operations concerning the product for the last month:

Actual Materials Purchased 9000 meters

Actual cost of materials purchased $170,550

Actual materials used in production 8600 meters

Actual output 1500 units

What is the materials price variance for the month?

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