1. During July, Otis, Inc. purchases and uses 8,700 pounds of materials costing $35,409 to make 4,000 bricks. Otis standard material cost per brick is $8 (2 pounds of material $4.00) Instructions Compute the total, price, and quantity material variances for Otis, Inc. for July. 2. During June, Jones Co. incurs 1,750 hours of direct labor at an hourly cost of $11.70 in producing 1,000 units of its finished product. Jones' standard labor cost per unit of output is $22 (2 hours x $11.00). Instructions Compute the total, price, and quantity labor variances for Jones Co. for June