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Determine the quantity variance and the cost variance

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Reference no: EM132527562

Ruby Company produces a chair that requires 7 yards of material per unit. The standard price of one yard of material is $12.60. During the month, 7,700 chairs were manufactured, using 54,400 yards at a cost of $11.97 per yard. Enter favorable variances as negative numbers.

Question (a) Determine the price variance.

Question (b) Determine the quantity variance.

Question (c) Determine the cost variance

Reference no: EM132527562

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