c. AAA Inc. has prepared the following standard cost sheet for one unit of the product. Direct materials (one unit needs 10 pounds at $3 per pound) Direct labor (one unit needs 5 hours at $11 per hour) $30 $55 During April, the company manufactures 260 units and incurs the following actual costs. Direct materials purchased and used (2,500 pounds) Direct labor (1,000 hours) $10,000 $14,000 Compute the total, price, and quantity variances for materials and labor.