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The following standard cost information is available for Leah Co.'s one and only product: Direct material 9 feet at $5.00 per foot. Actual information for July: 2,000 units were produced; 20,000 feet of direct material were purchased at a cost of $92,000 and 19,000 feet of material were used. What is the material purchase price variance for July?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M955972

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