Sheridan Company purchased (at a cost of $22,440) and used 3,300 pounds of materials during May. Sheridans standard cost of materials per unit produced is based on 1 pounds per unit at a cost $7.00 per pound. Production in May was 3,240 units. (a) Compute the total, price, and quantity variances for materials. Total Materials Variance $ Materials Price Variance $ Materials Quantity Variance $