Calculation of direct material price variance.
A dress company has the following standards to make one dress:
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Standard Quantity
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Standard Price
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Direct materials
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3 yards per unit
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$6.50 per yard
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Direct labor
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1.5 hours per unit
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$8.00 per hour
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The company purchased 3,000 yards of material in March for $21,000. The company used 2,800 yards in March in order to make 7,700 dresses. The direct materials price variance is?