Pearson - MAIH WebAdvisor Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $7.50. During the month, chairs were manufactured, using 43,600 yards at a cost of $7.55 per yard. Determine the following: Enter favorable variances as negative numbers. a. Price variance 2,180 Unfavorable 8,250 Unfavorable b. Quantity variance c. Cost variance $ 2,077,35 Unfavorable A 4 39 PM 10/220 Direct Labor Variances Tip Top Corp. produces a product that requires 4 standard hours per unit at a standard hourly rate of $12 per hour. If 6,200 units required 25,500 hours at an hourly rate of $11.64 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance Favorable b. Direct labor time variance Unfavorable c. Direct labor cost variance Favorable