Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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 $13.00. During the month, 8,700 chairs were manufactured, using 51,700 yards at a cost of $13.65 per yard.
Determine the following: Enter favorable variances as negative numbers.
a. Direct materials price variance | $ | Favorable/unfavorable |
b. Direct materials quantity variance | $ | fav/unfav |
c. Total direct materials cost variance | $ | fav/unfav |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started