Exeter has a material standard of 1 pound per unit of output. Each pound has...
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Accounting
Exeter has a material standard of 1 pound per unit of output. Each pound has a standard price of $27 per pound. During July, Exeter paid $137,000 for 4,990 pounds, which it used to produce 4,760 units. What is the direct materials price variance? (Do not round your intermediate calculations.)
$8,480 unfavorable
$1,370 favorable
$9,850 unfavorable
$2,270 unfavorable
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