Answer:
Total  direct material variance = $260
Price variance = $8,740 Favourable
Usage variance = $9,000 Adverse
Explanation:
<em>Direct  material price variance</em>
43,700×(7.50-7.30) = $8,740 Favourable
<em>Direct material usage variance</em>
                                                                                Yards
8,400 chairs should have used (8,400× 5)       42,500
but dis use                                                          <u> 43,700</u>
                                                                              1,200 adverse
standard price                                                   × <u> $7.50</u>
Usage variance                                                 <u>  9.000 Adverse</u>
Total  direct material variance = Price variance + quantity variance
= 8,740F + 9,000A= $260 A
Total  direct material variance = $260 Adverse
Price variance = $8,740 Favourable
Usage variance = $9,000 Adverse