In its first month of business, Multiplex Corporation purchased 40,000 pounds of material for $3.40 a pound. The company used 38,000 pounds of the material to produce 18,000 units of its one product. Multiplex uses a standard cost system and its standard quantity and price per unit is 2 pounds at $3.50 per pound.

What was the material efficiency variance for the month?

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The formula for calculating material efficiency vari... View the full answer