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show steps please Acer Manipulation Manufacturing's (AMM) standards anticipate that there will be 4 pounds of raw material used for every unit of finished goods

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Acer Manipulation Manufacturing's (AMM) standards anticipate that there will be 4 pounds of raw material used for every unit of finished goods produced. AMM began the mo May with 7,500 pounds of raw material, purchased 21,100 pounds for $21,100 and ended the month with 6,300 pounds on hand. The company produced 5,300 units of finish goods. The company estimates standard costs at $1.30 per pound. The materials price and efficiency variances for the month of May were: Price Variance Efficiency Variance $0 $1,430 V 1. $6,330 F 2. $6,690 F 3. $6,330 u O 4. $6,330 F $1,430 F $1,430 U

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