1. Ruby Company produces a chair that requires 7 yards of material per unit. The standard price of one yard of material is $9.20. During the month, 8,600 chairs were manufactured, using 61,400 yards at a cost of $9.66 per yard. Enter favorable variances as negative numbers.

   (a)	Determine the price variance.	$fill in the blank 1	FavorableUnfavorable
   (b)	Determine the quantity variance.	$fill in the blank 3	FavorableUnfavorable
   (c)	Determine the cost variance.	$fill in the blank 5	FavorableUnfavorable