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The Swenson Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased 35,000 pounds Standard price

The Swenson Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased 35,000 pounds Standard price of direct materials $8 per pound Material price variance $7,000 unfavorable Material quantity variance $7,500 favorable The actual price per pound of direct materials purchased in June is

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