Crane Company purchased (at a cost of $11,640 ) and used 2,400 pounds of materials during May. Crane's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5.00 per pound. Production in May was 1,140 units. (a) Compute the total, price, and quantity variances for materials. Total Materials Variance Materials Price Variance Materials Quantity Variance

Crane Company purchased (at a cost of $11,640) and used 2,400 pounds of materials during May. Crane's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5.00 per pound. Production in May was 1,140 units. (a) Compute the total, price, and quantity variances for materials. Total Materials Variance Materials Price Variance $ SA 290 Unfavorable SA $ 160 Favorable Materials Quantity Variance $ 450 Unfavorable