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Lowell Medical manufactures medical equipment. Standard and actual data regarding one of the company's products are provided below. Standard quantity of materials: 5.80 feet per
Lowell Medical manufactures medical equipment. Standard and actual data regarding one of the company's products are provided below.
- Standard quantity of materials: 5.80 feet per product
- Standard price of materials: $10.50 per foot
- Actual production: 410 products
- Actual materials used: 2,340 feet
- Actual total materials costs incurred: $24,050
Compute the materials price variance.
| $520 Unfavorable | ||
| $520 Favorable | ||
| $399 Unfavorable | ||
| $399 Favorable |
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