Assume the following: The standard price per pound is $2.00. The standard quantity of pounds...
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Accounting
Assume the following: The standard price per pound is $2.00. The standard quantity of pounds allowed per unit of finished goods is 4 pounds. The actual quantity of materials purchased was 53,000 pounds, whereas the quantity of materials used in production was 50,000 pounds. The actual purchase price per pound of materials was $2.25. The company produced 13,000 units of finished goods during the period. What is the materials price variance? Multiple Choice $12,500 U $13,000 U $13,250 U $12,250 F
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