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Ruby Company produces a chair for which the standard specifies 4 yards of material per unit. The standard price of one yard of material is

image text in transcribed Ruby Company produces a chair for which the standard specifies 4 yards of material per unit. The standard price of one yard of material is $9.70. During the month, 7,000 chairs were manufactured, using 28,600 yards at a cost of $10.19 per yard. Determine the following: Enter favorable variances as negative numbers

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