Exercise 11-7 (Video) Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. $29.00 Direct materials (10 pounds at $2.90 per pound) Direct labor (3 hours at $13.00 per hour) $39.00 During the month of April, the company manufactures 350 units and incurs the following actual costs. $6,510 Direct materials purchased and used (2,100 pounds) Direct labor (1,080 hours) $13,932 Compute the total, price, and quantity variances for materials and labor. Total materials variance $ Materials price variance $ Materials quantity variance $ Total labor variance > $ Labor price variance $ Labor quantity variance $ Click if you would like to Show Work for this question: Open Show Work