1. Fed Feeder Products inc. manufactures high quality wooden cutting boards sold to restaurants and gourmet home cooks. One of these boards, The CentriPro II, requires an expensive hardwood. During a recent month, the company manufactured 1,200 Centripro II cutting boards using 540 meters of hardwood. The hardwood cost the company $2,970. The company's standards for one Centripro II cutting board are 0.4 meters of hardwood, at the costs of $5.00 per meter. Required a. What cost of wood should have been incurred to make 1,200 CentrePro II cutting Boards? How much greater or less is this than the cost that was incurred? b. Break down the difference computed in "a" above into a material price variance and a material quantity variance