The Porter Company has a standard cost system. In July the company purchased and used...
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Accounting
The Porter Company has a standard cost system. In July the company purchased and used 22,500 pounds of direct material at an actual cost of $53,000; the material quantity variance was $1,875 Unfavorable; and the standard quantity of materials allowed for July production was 21,750 pounds. Calculate the material price variance for July?
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