Absolute Manipulation Manufacturing's (AMM) standards anticipate that there will be 4 pounds of raw material used for every unit of finished goods produced AMM began the month of May with 4,000 pounds of raw material purchased 22.700 pounds for $34.050 and ended the month with 3.500 pounds on hand. The company produced 5,400 units of finished goods. The company estimates standard costs at $2.00 per pound. The materials price and eficiency variances for the month of May were 01. Price Variance 511 350 02 Price Variance $11.350 F Elliciency Variance 33200 F Efficiency Variance 50 Efficiency Variance 53.2004 Efficiency Variance 53 200 U 3. Price Variance $11 600 F 04. Price Variance $11,550 F