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Absolute Manipulation Manufacturing's (AMM) standards anticipate that there will be 55 pounds of raw material used for every unit of finished goods produced. AMM began

Absolute Manipulation Manufacturing's (AMM) standards anticipate that there will be 55 pounds of raw material used for every unit of finished goods produced. AMM began the month of MayMay with 4,000 pounds of raw material, purchased 27,500 pounds for $19,250 and ended the month with 3,300 pounds on hand. The company produced 5,400 units of finished goods. The company estimates standard costs at $1.10 per pound. The materials price and efficiency variances for the month of May were:

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