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Calculate a Level 3 rate/price variance for materials given the following information: Budget Data: units produced 500; total material used 650 lbs; total material cost

Calculate a Level 3 "rate/price" variance for materials given the following information: Budget Data: units produced 500; total material used 650 lbs; total material cost $7,150. Actual Results: units produced 400; total material used 600 lbs; total material cost $6,000. $600 F $880 F $880 U $600 U image text in transcribed

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