Hart Company made 3,200 shelves using 22,200 pounds of wood costing $290,820. The company's direct materials standards for one shelf are 8 pounds of wood at $13.00 per pound. Exercise 8-13 (Algo) Computing and interpreting materials variances LO P3 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further?