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 $2.10 per kilogram) Direct labour (2.10 hours at $10.80 per hour) $12.60 $22.68 During the month of April, the company manufactures 150 units and incurs the following actual costs: Direct materials purchased and used (1,100 kg) Direct labour (290 hours) $2,530 $2,987 Calculate the total, price, and quantity variances for materials and labour. Materials Labour Price variance Quantity variance $ Total variance