P 12-13: Hurricane Catalyst Hurricane Catalyst produces a variety of specialty chemicals. Hurricane uses a standard costing sys tem. On June 19, it purchased 4,400 pounds of AD98 for $105,380 because it had no inventory of this chemical input. The standard price of AD98 is s23.50 per pound. On July 28, Hurricane pro- duced 1.200 units of a catalyst, ZZ875, using 4,350 pounds of AD98. he standard cost sheet for ZZ875 calls for 3.5 pounds of AD98 for each unit of ZZ875 produced. Required: Compute the following quantities: a. Price variance of AD98. b. Quantity variance of AD98 used in producing ZZ875