Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $7.60. During the month, 8,500 chairs were manufactured, using 40,000 yards at a cost of $7.50. Enter favorable variances as negative numbers.

Determine the following:

a. Price variance	$	Favorable
b. Quantity variance	$	Favorable
c. Cost variance	$	Favorable