> Sheridan Company purchased (at a cost of $9,630) and used 1,800 pounds of materials during May. Sheridan's standard cost of materials per unit produced is based on 3 pounds per unit at a cost $5.50 per pound. Production in May was 510 units. (a) Compute the total, price, and quantity variances for materials. Total Materials Variance Materials Price Variance +A +A A Materials Quantity Variance