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Bond is using a standard of 4 pounds of material at $10 per pound for one of its model. Planned production was 750 models but actual production was 800 models, using 5 pounds of material for each model at an actual price of $9 per pound. 4,000 pounds were purchased and used. What is the materials price variance?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940656

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