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Ruby Company produces a chair that requires 4 yds. of material per unit. The standard...

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Accounting

Ruby Company produces a chair that requires 4 yds. of material per unit. The standard price of one yard of material is $8.50. During the month, 7,000 chairs were manufactured, using 33,000 yards at a cost of $7.85. Determine the (a) price variance, (b) quantity variance, and (c) cost variance.

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