1. Ruby Company produces a chair that requires 3 yards of material per unit. The standard price of one yard of material is $9.20. During the month, 7,500 chairs were manufactured, using 23,000 yards at a cost of $8.74 per yard.

   Determine the following: Enter favorable variances as negative numbers.

   a.	Price Variance	$
   b.	Quantity Variance	$
   c.	Cost Variance	$