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

Acme Inc. has the following information available:

Actual price paid for material $1.00
Standard price paid for material $0.90
Actual quantity purchased and used in production 100
Standard quantity for units produced 110
Actual labor rates per hour $15
Standard labor rates per hour $14
Actual hours 200
Standard hours for units produced 220

Compute the material price variance.

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