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Myles Company budgeted 10,500 pounds of direct materials costing $23.50 per pound to make 5,300 units of product. The company actually purchased 11,000 pounds of direct materials costing $25.00 per pound to make the 5,300 units. What is the direct materials price variance?

a. $16,500 favorable

b. $16,500 unfavorable

c. $15,750 unfavorable

d. $15,750 favorable

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