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Ruby Company produces a chair that requires 7 yards of material per unit. The standard price of one yard of material is $9.00. During the

Ruby Company produces a chair that requires 7 yards of material per unit. The standard price of one yard of material is $9.00. During the month, 7,000 chairs were manufactured, using 48,000 yards at a cost of $8.46 per yard.

Determine the following: Enter favorable variances as negative numbers.

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