View Policies Current Attempt in Progress Ceelo Company purchased (at a cost of $11.880) and used 2.400 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 1 pounds per unit at a cost $5.00 per pound. Production in May was 2,350 units. Compute the total price and quantity variances for materials. (Round answers to decimal places, eg. 125.) Total Materials Variance Materials Price Variance Materials Quantity Variance $ $