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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

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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 $8.20. During the month 4,900 chairs were manufactured, using 24,000 yards at a cost of 57.71 per yard. Determine the followina: Enter favorable variances as necative numbers

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