Fine Lumber Inc. mills and finishes furniture kits. A certain kit requires the following: Direct materials standard 2 square yards at $13.50 per yard Direct manufacturing labor standard 1.5 hours at $20.00 per hour During the third quarter, the company made 1,500 kits and used 3,150 square yards of wood costing S42,600. Direct labor totaled 2,100 hours for $46,150. Required: YE, 51903.52 | 46,150 - 2,100 21.98 a. Compute the direct materials price and efficiency variances: b. Compute the direct manufacturing labor price and efficiency variances