Question: Can you solve this general accounting problem with appropriate steps and explanations? A manufacturing firm purchased 90,000 units of raw material during the period for

Can you solve this general accounting problem with appropriate steps and explanations?

A manufacturing firm purchased 90,000 units of raw material during the period for a total cost of $432,000. The standard price set by the company is $5.00 per unit of raw material. Management wants to assess how well the purchasing department controlled costs by calculating the materials purchase price variance. What is the variance

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