Compute variances for materials. E11.13 (LO 2, 3), AP Writing Ceelo Company purchased (at a cost of $10,200) and used 2,400 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5 per pound. Production in May was 1,050 units. Instructions a. Compute the total, price, and quantity variances for materials. b. Assume Ceelo also had an unfavorable labor quantity variance. What is a possible scenario that would provide one cause for the variances computed in (a) and the unfavorable labor quantity variance?Ell-13 page 11-36 For part a. Prepare a matrix and calculate the materials variances, see E11-7 in the Chapter 11 Introduction Module. For part b. Think about this part and jot down your ideas. Full credit will be given on homework if you have made a good effort. Due date: Wednesday, November 29th