roblem 5-Computation of Materials Variances: (40 points) Variance analysis is the tool used to focus management attention on areas that are not operating as expected. A grid that breaks a line item into a pricing variance and an efficiency variance is a frequently used tool. The followng information was gathered for materials used for this project: Standard quantity: Standard price: Actual quantity: Actual price: 5,000 units x 4 bd. ft./unit - 20,000 bd. ft. $18.00/bd. ft. (given) 22,000 bd. ft. (given) $17.50/bd. ft. Required: Using the above information, calculated the materials variances. Be sure to include your calculations. A/Q* A/P A/Q* S/P S/Q* S/P