Ceelo Company purchased (at a cost of $11,880) and used 2,400 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 3 pounds per unit at a cost $5.00 per pound. Production in May was 740 units. (a) Compute the total, price, and quantity variances for materials. Total Materials Variance $ Materials Price Variance -630 Unfavorable -8130 Favorable Materials Quantity Variance $ -150 Unfavorable