Question: How much was the material price variance? Echo Industries uses a single raw material in its production process. The standard price for a unit of

How much was the material price variance?

Echo Industries uses a single raw material in its production process. The standard price for a unit of material is $2.25. During the month, the company purchased and used 820 units of this material at a price of $2.10 per unit. The standard quantity required per finished product is 4 units, and during the month, the company produced 205 finished units. How much was the material price variance

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