Question
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 $9.90. During the month, 7,300 chairs were manufactured, using 21,500 yards at a cost of $9.40 per yard.
Determine the following: Enter favorable variances as negative numbers.
| a. Direct materials price variance | $fill in the blank 1 | FavorableUnfavorable |
| b. Direct materials quantity variance | $fill in the blank 3 | FavorableUnfavorable |
| c. Total direct materials cost variance | $fill in the blank 5 | FavorableUnfavorable |
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Statistics Informed Decisions Using Data
Authors: Michael Sullivan
5th Global Edition
1292157119, 978-1292157115
