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The following data relate to direct materials cost for December: Actual costs - $7.00 per pound Standard costs - $7.75 per pound 12,000 pounds of

The following data relate to direct materials cost for December:

Actual costs - $7.00 per pound

Standard costs - $7.75 per pound

12,000 pounds of material were purchased and 10,000 pounds of material were used. Only 9,500 pounds of material should have been used for production purposes.

What is the materials quantity variance?

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