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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
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 $12.70. During the month, 6,400 chairs were manufactured, using 31,700 yards at a cost of $11.94 per yard. Determine the following: Enter favorable variances as negative numbers. a. Direct materials price variance -24,092 Favorable b. Direct materials quantity variance -3,810 Favorable C. Total direct materials cost variance -27,902 Favorable
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