Question
Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $7.50. During the
Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 43,600 yards at a cost of $7.55 per yard.
Determine the following: Enter favorable variances as negative numbers.
| a. Price variance | $ | Unfavorable |
| b. Quantity variance | $ | Unfavorable |
| c. Cost variance | $ | Unfavorable |
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Auditing A Practical Manual For Auditors
Authors: Lawrence Robert Dicksee
1st Edition
1360462546, 978-1360462547
