Carol's Cookies expected to use 2 pounds of direct materials to produce 1 unit (batch) of product at a cost of $2 per pound. Actual results are in for last year, indicating 400,000 batches of cookies were sold. The company purchased 900,000 pounds of materials at $1.00 per pound and used 900,000 pounds in production. What is the total dollar amount of the standard material cost? What is the total amount of the actual material cost? What is the dollar amount of the materials price variance? What is the dollar amount of the materials quantity variance? The materials price variance is favorable. T/F The materials quantity variance is favorable. T/F