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The following information is available for Munter Manufacturing Company

Accounting

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The following information is available for Munter Manufacturing Company.

-- Direct materials price standard is $3.25 per pound.

-- Direct materials quantity standard is six pounds per finished unit.

-- Budgeted production is 25,000 finished units.

-- 175,000 pounds of direct materials were purchased for $525,000.

-- 175,000 pounds of direct materials were used in production.

-- 25,600 finished units of product were produced.

What is the direct materials price variance?