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Ruby Company produces a chair for which the standard specifies 7 yards of material per...

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Accounting

Ruby Company produces a chair for which the standard specifies 7 yards of material per unit. The standard price of one yard of material is $11.70. During the month, 6,700 chairs were manufactured, using 47,800 yards at a cost of $12.29 per yard. 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 $

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