What is tools-n-time''s materials price variance


Tools-N-Time has a standard of 1.5 pounds of materials per unit, at $4 per pound. In producing 2,000 units, Tools-N-Time used 3,100 pounds of materials at a total cost of $12,090.

what is Tools-N-Time's materials price variance ?

 

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Accounting Basics: What is tools-n-time''s materials price variance
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