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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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