Question: Question Content Area Ruby Company produces a chair for which the standard specifies 3 yards of material per unit. The standard price of one yard

Question Content Area

Ruby Company produces a chair for which the standard specifies 3 yards of material per unit. The standard price of one yard of material is $12.90. During the month, 8,700 chairs were manufactured, using 26,400 yards at a cost of $12.13 per yard.

Determine the following: Enter favorable variances as negative numbers.

a. Direct materials price variance

$fill in the blank 1

FavorableUnfavorable

b. Direct materials quantity variance

$fill in the blank 3

FavorableUnfavorable

c. Total direct materials cost variance

$fill in the blank 5

FavorableUnfavorable

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