You are the project manager for a new line of wooden chairs at "Elegant Furnishings," a furniture manufacturing company. Your task is to estimate the direct material costs for producing these chairs.

Instructions:

1. List down all the materials required to produce a wooden chair (e.g., wood, nails, varnish, etc.).

2. For each material, determine the quantity required for a single chair.

3. Obtain current prices (you can use magazines, the internet, etc.) for each material from vendors or company inventory records.

4. Using the Bill of Materials (BOM), calculate the total direct material cost for producing a single chair.

5. Adjust the prices for cost trends, such as inflation or technological advancements.

6. Calculate the total direct material cost for producing 100 chairs.