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Ruby Company produces a chair for which the standard specifies 6 yards of material per unit. The standard price of one yard of material is
Ruby Company produces a chair for which the standard specifies 6 yards of material per unit. The standard price of one yard of material is $13.90. During the month, 8,100 chairs were manufactured, using 48,100 yards at a cost of $14.73 per yard.
Determine the following: Enter favorable variances as negative numbers.
a. Direct materials price variance $____ Favorable or Unfavorable
b. Direct materials quantity variance $____. Favorable or Unfavorable
c. Total direct materials cost variance $____ Favorable or Unfavorable
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