Ruby Company produces a chair that requires 3 yards of material per unit. The standard price of one yard of material is 514.60. During the month, 8,000 chairs were manufactured, using 24,500 yards at a cost of $13.72 per yard. Enter favorable variances as negative numbers. (a) Determine the price variance 21,560 Favorable (b) Determine the quantity variance Unfavorable 7,300 14,260 (c) Determine the cost variance Favorable