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Ruby Company produces a chair for which the standard specifies 6 yards of material per...

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Ruby Company produces a chair for which the standard specifies 6 yards of material per unit. The standard price of one yard of material is $9.20. During the month, 5,400 chairs were manufactured, using 31,800 yards at a cost of $9.66 per yard. Determine the following: Enter favorable variances as negative numbers

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