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Acme Inc. has the following information available: $1.00 $0.90 100 Actual price paid for material Standard price paid for material Actual quantity purchased and used

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Acme Inc. has the following information available: $1.00 $0.90 100 Actual price paid for material Standard price paid for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rates per hour 110 $15 Standard labor rates per hour $14 Actual hours 200 Standard hours for units produced 220 Compute the material price variance. O $10 Favorable O $11 Favorable O $10 Unfavorable O $11 Unfavorable

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