Ruby Company produces a chair that requires 7 yards of material per unit. The standard price of one yard of material is $12.50. During the month, 4,900 chairs were manufactured, using 34,000 yards at a cost of $13.25 per yard. Enter favorable variances as negative numbers. (a) Determine the price variance. (b) Determine the quantity variance. (c) Determine the cost variance. Favorable Unfavorable