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Ruby Company produces a chair for which the standard specifies 3 yards of material per unit. The standard price of one yard of material is
Ruby Company produces a chair for which the standard specifies 3 yards of material per unit. The standard price of one yard of material is $10.20. During the month, 7,800 chairs were manufactured, using 23,600 yards at a cost of $9.59 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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