Question 6 (9 points) The standard cost of Product XYZ manufactured by Albert Industries includes 1.75 pounds of direct materials at $5.00 per pound. During September, 46,500 pounds of direct materials are purchased at a cost of $4.75 per pound, and all of the direct materials are used to produce 28,000 units of Product XYZ. Instructions: In the space provided, record the (1) Materials Price variance, (2) Materials Quantity variance, and (3) Total Materials variance. (a) Compute the price, quantity, and total material variances. (Show work) (1) Materials Price Variance (2) Materials Quantity Variance (3) Total Materials Variance