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calculate materials price variance based on the following information. Show your work. Actual price:$7.00 Standard Price: $8.50 Actual Quantity used:115,000 pounds Standard Quantity allowed:11,8000 pounds

calculate materials price variance based on the following information. Show your work.

Actual price:$7.00

Standard Price: $8.50

Actual Quantity used:115,000 pounds

Standard Quantity allowed:11,8000 pounds

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