Amalgamated Manipulation Manufacturing's (AMM) standards anticipate that there will be pounds of raw material used for every unit of finished goods produced. AMM began the month of with pounds of raw material, purchased pounds for and ended the month with pounds on hand. The company produced units of finished goods. The company estimates standard costs at per pound. The materials price and efficiency variances for the month of were as follows: Question content area bottom Part 1 1. Price Variance Efficiency Variance $3,000 U $1,500 F 2. Price Variance Efficiency Variance $3,000 F $0 3. Price Variance Efficiency Variance $3,000 F $1,500 U 4. Price