Concord Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2022, 10,400 suits were produced. The following standard and actual cost data applied to the month of May, when normal capacity was 16,000 direct labor hours. All materials purchased were used. Cost Element Standard (per unit) Actual Direct materials 10 yards at $4.20 per yard $419,600 for 104,900 yards ($4.00 per yard) Direct labor 1.10 hours at $13.00 per hour $161,336 for 12,040 hours ($13.40 per hour) Overhead 1.10 hours at $6.20 per hour (fixed $3.70: variable $2.50) $49,600 fixed overhead $37,500 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $59,200, and budgeted variable overhead was $40,000. (a) Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round per unit values to 2 decimal places, eg. 52.75 and final answers to O decimal places, e.g. 52.) (1) Total materials variance $ Materials price variance $