Exercise 12.23 Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product: Direct materials (6 kg at $2.50 per kilogram) $15.00 Direct labour (2.00 hours at $12.20 per hour) $24.40 During the month of April, the company manufactures 280 units and incurs the following actual costs: Direct materials purchased and used (1,880 kg) $5,076 Direct labour (530 hours) $6,201 Calculate the total, price, and quantity variances for materials and labour. Materials Labour Price variance 69 $ Quantity variance Total variance $ $