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A company provides the following data for material costs: Standard cost per unit: 3 pounds at $2 per unit Actual cost per unit: 2.5 pounds

A company provides the following data for material costs:

Standard cost per unit: 3 pounds at $2 per unit

Actual cost per unit: 2.5 pounds at $3 per unit

During the month, 5,000 pounds of raw materials were purchased.

What is the direct material price variance?

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