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Crane Company has a materials price standard of $3 per pound. 5800 pounds of materials were purchased at $3.20 a pound. The actual quantity of

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Crane Company has a materials price standard of $3 per pound. 5800 pounds of materials were purchased at $3.20 a pound. The actual quantity of materials used was 5800 pounds although the standard quantity allowed for the output was 3500 pounds. Crane Company's materials price variance is $1160F.$1160U.$1050U.$460U

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