Ruby Company produces a chair that requires a standard 7 yards of material per unit. The standard price of one yord of material is $13.90. During the month, 5,500 chair were manufactured, using 38,100 yards at a coit of $14.73 per yard: Determine the (a) direct materials price variance, (b) direct materials quantiry variance, and (c) total direct matenals cost variance. Enter favorable variances as negative