Hart Labs, Inc provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore, Hart Labs must constantly monitor and control its testing costs. Shown below are the standard costs for a typical test. Direct materials (2 test tubes @ $1.80 per tube) Direct labor (1 hour @$32 per hour) Variable overhead (1 hour@$7.00 per hour) Fixed overhead (1 hour @ $1200 per hour) $360 32.00 7.00 12.00 $54.60 Total standard cost per test The lab does not maintain an inventory of test tubes. As a result, the tubes purchased each month are used that month. Actual activity for the month of November 2020, when 1.200 tests were conducted, resulted in the following Direct materials (2,520 test tubes) Direct labor (1,248 hours) Varlable overhead Fixed overhead $4,284 38,688 7,068 14,940 Monthly budgeted fxed owerheadis S16.320. Revenues for the month were $79.200, and selling and sdministrative espenses were $4,0oo. Compute the price and quantity variances for direct materials and direct labor $ 249 Favorable Materials price varlance Materials quantity varilance Labor price varianceS Labor quantity variance$