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Using the information in the table below, calculate the amount of the favorable price variance. Budgeted Actual Volume 200,000 178,000 Cost per unit $40 $37

Using the information in the table below, calculate the amount of the favorable price variance.

Budgeted Actual

Volume 200,000 178,000

Cost per unit $40 $37

Cost $8,000,000 $7,030,000

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