Question Content Area Ruby Company produces a chair that requires a standard 3 yards of material per unit. The standard price of one yard of material is $9.90. During the month, 6,700 chairs were manufactured, using 20,500 yards at a cost of $9.40 per yard. Determine the (a) direct materials price variance, (b) direct materials quantity variance, and (c) total direct materials cost variance. Enter favorable variances as negative numbers.