Clarke Company produces picnic tables which require 5.5 bd ft of wood and .75 direct labors hours to produce. The wood costs $12.50 per bd ft and Clarke's hourly labor rate is $30. Clarke produced 800 tables in May and incurred the following material and labor costs: Direct material Direct labor 4370 bd ft @ a total cost of $55,936 580 hours @ a total cost of $18,270 Calculate a rate (price) variance for direct labor. Calculate a quantity variance for direct materials