Hart Company made 4.000 bookshelves using 27.000 board feet of wood costing exist297.000. The company's direct materials standards for one bookshelf are 8 board feet of wood at exist10.90 per board foot. Computation and interpretation of materials variances: Materials variances recorded and closed LO P2, P5 (1) Compute the direct materials price and quantity variances incurred in manufacturing these bookshelves