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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

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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 $14.50. During the month, 7,000 chairs were manufactured, using 21,200 yards at a cost of $15.23 per yard. Determine the following: Enter favorable variances as negative numbers

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