4. Topaz Company produces a chair that requires 5 yds of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 43,600 yards at a cost of $7.55 per yard. Determine the (a) cost variance, (b) efficiency variance, and (c) overall direct material variance. SC SQ x AQ 43,600 7,55 SCAQ 43,600 7,50 Cost Variance Efficiency Variance Total Direct Materials Variance