Question 8 (15 points) Firelight Company manufactures candles. The standard direct materials quantity required to produce one large candle is one pound at a cost of $5 per pound. During November, 7,200 large candles were produced using 7,500 pounds of direct materials that cost $45,000. Using the format below, prepare an analysis of the direct materials variances and identify what would go in each box listed. SC XSQ x AQ SC X AQ Box 3 Box 1 BOX 2 Cost Variance Box 5 Efficiency Variance Box 6 ews A e 20 - N Using the format below, prepare an analysis of the direct materials variances and identify what would go in each box listed. x AQ SC AQ SC X SQ Box 1 BOX 2 Box 3 Cost Variance Box 5 Efficiency Variance Box 6 Total Direct Materials Variance Box7