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Assume the following: The standard price per pound is $2.70. The actual quantity of materials purchased and used in production is 60,000 pounds. The standard

Assume the following: The standard price per pound is $2.70. The actual quantity of materials purchased and used in production is 60,000 pounds. The standard quantity allowed for the actual level of output is 59,200 pounds. What is the materials quantity variance?

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