Exercise 12.23 Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product: $17.70 Direct materials (6 kg at $2.95 per kilogram) Direct labour (2.40 hours at $11.50 per hour) $27.60 During the month of April, the company manufactures 340 units and incurs the following actual costs: $7,056 Direct materials purchased and used (2,240 kg) Direct labour (790 hours) $8,769 Calculate the total, price, and quantity variances for materials and labour. Materials Labour Price variance $ Quantity variance $ $ Total variance $ $