Ceelo Company purchased (at a cost of $7.920) and used 1,600 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 1 pounds per unit at a cost $5.00 per pound Production in May was 1,550 units. (a) Compute the total price and quantity variances for materials (Round answers to decimal places, 08. 125.) Total Materials Variance $ Materials Price Variance $ Materials Quantity Variance $