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Ace Maniputation Manufacturing's (AMMM) standards anticipate that there will be 2 pounds of raw matheial sted for every unt of finished goods prodvuced AMM began the month of May with B,oco pounds of mw matecinl, purchased 11,400 pounds for $13,680 and ended the month with 7,300 pounds on hand. The comgary prodiced 5,500 units of friahed goodr. The compony estimates standard costs at $1.70 per pound. The materiais price and efficiency variances for the moeth of May were as follows: 4. Price Variance Efficlency Variance $5,700F$0