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Determine the direct materials price variance

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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 $9.90. During the month, 7,300 chairs were manufactured, using 21,700 yards at a cost of $9.40 per yard.

Problem 1: Determine the following: Enter favorable variances as negative numbers.

a. Direct materials price variance $? Favorable/unfavorable?

b. Direct materials quantity variance $? Favorable/unfavorable?

c. Total direct materials cost variance $? Favorable/unfavorable?

Reference no: EM132742766

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