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NEED TO KNOW FAVORABLE AND UNFAVORABLE Ruby Company produces a chair for which the standard specifies 5 yards of material per unit. The standard price

NEED TO KNOW FAVORABLE AND UNFAVORABLE

Ruby Company produces a chair for which the standard specifies 5 yards of material per unit. The standard price of one yard of material is $9.30. During the month, 6,900 chairs were manufactured, using 35,200 yards at a cost of $8.74 per yard. Determine the following: Enter favorable variances as negative numbers. a. Direct materials price variance b. Direct materials quantity variance c. Total direct materials cost variance

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