Answer:
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The amount of dollars that it would cost to buy an edinburgh sweaters if the exchange rate is 1.50 dollars per one british pound is: $75.
<h3>Dollar amount to buy an buy an edinburgh woolen mill </h3>
Using this formula
Dollar amount=Cost of woolen mill sweater×Exchange rate
Where:
Cost of woolen mill sweater=50 pounds
Exchange rate=1.50 dollars
Let plug in the formula
Dollar amount=50×$1.50
Dollar amount=$75
Inconclusion the amount of dollars that it would cost to buy an edinburgh woolen mill sweater is $75.
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Answer:
$2,450 Unfavorable
Explanation:
The computation of material price variance is shown below:-
Material price variance = ( Standard Price - Actual Price ) × Actual Quantity of materials purchased
= $17.40 - ($124,250 ÷ 7000) × 7,000
= ($17.40 - $17.75) × 7000
= $2,450 Unfavorable
Therefore for computing the material price variance we simply applied the above formula.
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