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The following materials standards have been established for a particular product: ...

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Accounting

The following materials standards have been established for a particular product:

Standard quantity per unit of output 5.2 meters
Standard price $ 18.00 per meter

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

Actual materials purchased 8,100 meters
Actual cost of materials purchased $ 151,065
Actual materials used in production 7,700 meters
Actual output 1,450 units

What is the materials price variance for the month?

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