Question: Calculate a Level 3 rate / price variance for materials given the following information: budgeted units produced: 5 0 0 budgeted material used in

Calculate a Level 3 "rate/price" variance for materials given the following information:
budgeted units produced: 500
budgeted material used in kgs: 700
budgeted total material cost: $9100
actual units produced: 7009
actual material used in kgs : 10500
actual total material cost: $105009

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