Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $14.20. During the month, 7,800 chairs were manufactured, using 39,800 yards at a cost of $15.05 per yard. Enter favorable variances as negative numbers (a) Determine the price variance Favorable (b) Determine the quantity variance Favorable (e) Determine the cost variance Favorable