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ILT manufactures a variety of fertilizers for wheat farmers and uses a standard cost system. One of JLT's major inputs to many of its fertilizers is nitrogen, N385-03. JLT started last month with no inventory of N385-03. It purchased 10,000 liters of N385-03 last month at the beginning of the month in one transaction. JLT reported the following results of operations last month with respect to its purchase and use of N385-03: N385-03 Price variance N385-03 Quantity usage variance N385-03 Added to work-in-process inventory N385-03 Raw material inventory $2,000 (Favorable $600 (Unfavorable) $48,000 $11,400 Required. Calculate the following parameters that JLT used last month with respect to N385-03 a. Standard quantity b. Actual quantity c. Actual price d. Standard price