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Raven Inc. manufactures 2,000 car tires per month. It had estimated that it would require 10,000 lbs. of rubber per month at the price of

Raven Inc. manufactures 2,000 car tires per month. It had estimated that it would require 10,000 lbs. of rubber per month at the price of $3.50 per lb. to manufacture 2,000 tires. In June, it produced 2,000 tires but it required 11,000 lbs. of rubber and its price was $3.25 per lb. What is the direct material price variance for Raven Inc.?

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