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Determine the cost variance and efficiency variance

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Question - Topaz Company produces a chair that requires 5 yds. 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 (a) cost variance, (b) efficiency variance, and (c) overall direct material variance.

Reference no: EM132521216

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