Variance analysis JackJoe, Inc. standard costing provided below. During 20x1, JackJoe Inc. used X (select a variable between 291,000 and 299,000) of raw materials units to produce 200,000 units of finished goods. Create a two way variance analysis (5 points) and compute 1. Price variance favorable or unfavorable (5 points) 2. Quantity variance favorable or unfavorable (5 points) 3. Actual price per unit (5 points). You may use electronic spreadsheets for calculation purposes, but please upload a pdf of your handwritten work. Assumptions 20x1 Units sold 200,000 Raw material units per unit 1.50 sold Actual Quantity of raw X (choose) materials Budgeted raw material cost $1.07 per unit Total Raw material cost $7,000.00 variance - Favorable