Ruby Company produces a chair that requires a standard 7 yards of material per unit. The standard price of one yard of material is $12.30. During the month, 4,900 chairs were manufactured, using 34,600 yards at a cost of $11.56 per yard. Determine the (a) direct materials price variance, (b) direct materials quantity variance, and (c) total direct materials cost variance. Enter favorable variances as negative numbers.
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Ruby Company produces a chair that requires a standard 7 yards of material per unit. The standard pr...
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