This question is worth 10 points. (The 5 points indicated in the quiz plus 5 extra credit points) Sheldon Co. has a material standard of 1.5 pounds per unit of output. Each pound has a standard price of $7.50 per pound. During February, Sheldon Co. paid $23,400 for 3,600 pounds, which were used to produce 2,300 units. Compute the variance by showing your work. (no work, no points) Indicate the amount and whether the variance is favorable or unfavorable. In one sentence, explain why the variance is favorable or unfavorable. a. What is the direct materials quantity variance? b. What is the direct materials price variance