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Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $14.70. During the

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Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $14.70. During the month, 8,400 chairs were manufactured, using 41,600 yards at a cost of $15.44 per yard. Enter favorable variances as negative numbers Determine the price variance. Determine the quantity variance. Determine the cost variance. (a) (b) Favorable_ (c) Unfavorable

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