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A company purchases and uses 80000 gallons of materials for which they paid $5 a gallon. The materials price variance was $120000 favorable. What is

A company purchases and uses 80000 gallons of materials for which they paid $5 a gallon. The materials price variance was $120000 favorable. What is the standard price per gallon?

$1.50

$6.50

$3.50

$5.00

with formula

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