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Determine the direct materials price variance

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Question - Ruby Company produces a chair for which the standard specifies 5 yards of material per unit. The standard price of one yard of material is $11.60. During the month, 8,400 chairs were manufactured, using 41,200 yards at a cost of $12.18 per yard.

Required - Determine the following: Enter favorable variances as negative numbers.

a. Direct materials price variance.

b. Direct materials quantity variance.

c. Total direct materials cost variance.

Reference no: EM132539055

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