Exercise 24-07 (Video) Pina Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product Direct materials (8 pounds at $3.30 per pound) Direct labor (1 hours at $12.00 per hour $26.40 $12.00 During the month of April, the company manufactures 240 unts and incurs the following actual costs. Direct materials purchased and used (2,300 pounds) Direct labor 280 hours) $8,050 $3,304 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 questions Open Show Work