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Norva, Inc. has budgeted the following costs for the manufacture of XP1, a component used in several of its products plans to produce 4.500 units

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Norva, Inc. has budgeted the following costs for the manufacture of XP1, a component used in several of its products plans to produce 4.500 units of XP1 in the upcoming year. To do this Norva has budgeted Direct Materials of 13,500 ounces at $0.40 per ounce and Budgeted Direct labor of 1,500 hours at $35.00 per hour. For the year Norva actually manufactured 4,800 units of XP1 using 14,500 ounces of materials at an average cost of $0,44 per ounce and 1,550 hours of direct labor at an average cost of $37.00 per hour. What is the direct materials price variance? (Note this coul be a positive number indicating an unfavorable variance or a negative number indicating a favorable variance. Do not include a dollar sign and do not add a plus sign to positive numbers as Blackboard will mark the answer as incorrect.)

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