Oakwood, Inc., manufactures end tables, armchairs, and other wood furniture products standard costing system and isolates variances as soon as possible. The purchasing manager is respons from high-quality materials The company uses a ible for controlling direct estep variances, and production managers are responsible for controlling usage variances. Durning Noverber results were reported for the production of American Oak armchairs Units produced Direct materials purchased Direct materials issued into production Standard cost per unit (22 board feet x $6.6) Purchase price variance 1,620 armchairs 19,800 board feef 17,070 board feet $145.2 per unit produced $2,810 unfavorable Required: a. Calculate the decimal places.) ound your answer to 2 actual price paid per board foot purchased. (Do not round intermediate calculations. R Actual price per board foot b. Calculate the standard quantity of materials allowed (in board feet) for the number of units produced Standard quantity of materials alowed c. Calculiate the direct materials usage variance. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct material usage variance d. The purchasing manager may have purchased higher-than-standard quality raw material inputs is the most likely explanation for t price and usage variances True False