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If an actual price of material is 700 and budgeted price...

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Management Accounting
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If an actual price of material is $700 and budgeted price is $900, then the

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Correct Answer: Option C
If an actual price of material is $700 and budgeted price is $900, then the price variance is favourable. If the actual cost incurred is lower than the standard cost, this is considered a favorable price variance.
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