Bettys Bakery has the following standard cost sheet for one unit of its most popular cake: SQ SP Direct materials 1.2 pounds $ 1.50 per pound Direct labor 0.8 hours $ 12.00 per hour During the month of May, the company made 740 cakes and incurred the following actual costs. Direct materials purchased and used (1,040 pounds) $1,352 Direct labor (800 hours) $9,200 Required: 1. Calculate the direct materials price variance. 2. Calculate the direct materials quantity variance. 3. Calculate the direct materials variance 4. Caluclate the direct labor efficiency variance. 5.Calculate the direct labor efficiency variance 6. Calculate the direct labor spending variance.