Variance Analysis Problem Paradise, Inc, has prepared the following standard cost sheet for one unit of the product. Direct materials (2 pounds at $7 per pound) Direct labor (4 hours at 515.00 per hour) During the month of November, the company manufactures 2,000 units and incurs the following actual costs. Direct materials purchased and used ( 5,000 pounds) Direct labor (6,000 hours ) 1. Compute the total, price, and quantity variances for materials. a. Describe a new service or product that you would recommend for your company to offer dve to the impact of the covid-19 pandemic 1- Explain what new investments in property, plant, and equipment, technologk, or new processes would be necessary to affer this new product or service to your customers. (75 words - 2.5pts) 2- Explain how your new investments in property, plant, and equipment, technolory, or new grocesses would help the company to reduce waste and increase efficiencies in the company's manufacturing process or another business process. (75 words - 2.5p ss)