Question
Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $11.00. During the
Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $11.00. During the month, 5,900 chairs were manufactured, using 29,200 yards at a cost of $11.55 per yard. Enter favorable variances as negative numbers.
| (a) | Determine the price variance. | $fill in the blank 1 | FavorableUnfavorableUnfavorable |
| (b) | Determine the quantity variance. | $fill in the blank 3 | FavorableUnfavorable |
| (c) | Determine the cost variance. | $fill in the blank 5 | FavorableUnfavorable |
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Business Accounting Uk Gaap Volume 1
Authors: Frank Wood, Alan Sangster
1st Edition
0273718762, 9780273718765
