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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 $11.00. During the

Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $11.00. During the month, 5,900 chairs were manufactured, using 29,200 yards at a cost of $11.55 per yard. Enter favorable variances as negative numbers.

(a) Determine the price variance. $fill in the blank 1

FavorableUnfavorableUnfavorable

(b) Determine the quantity variance. $fill in the blank 3

FavorableUnfavorable

(c) Determine the cost variance. $fill in the blank 5

FavorableUnfavorable

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