The standard cost of product b manufactured by pharrell company includes 3.1 units of direct materials at $6.10 per unit. during june, 26,900 units of direct materials are purchased at a cost of $5.85 per unit, and 26,900 units of direct materials are used to produce 8,500 units of product b. (a) compute the total materials variance and the price and quantity variances. total materials variance $enter a dollar amount select an option materials price variance $enter a dollar amount select an option materials quantity variance $enter a dollar amount select an option(b) compute the total materials variance and the price and quantity variances, assuming the purchase price is $6.15 and the quantity purchased and used is 26,800 units.

answer; i believe the answer is 40,600,000;

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.