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.

Prepare an income statement for management. HART LABS, INC. Income Statement Dividends Expenses Gross Profit (Actual) Gross Profit (at Standard) Net Income / (Loss) Revenues Total Expenses Total Revenues Total Variance Variances Prepare an income statement for management. HART LABS, INC. Income Statement 0 0 0 \\l Unfavorable Neither favorable nor unfavorable Favorable 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 @ $1.90 per tube) $3.80 Direct labor (1 hour @ $31 per hour) 31.00 Variable overhead (1 hour @ $6.00 per hour) 6.00 Fixed overhead (1 hour @ $12.00 per hour) 12.00 Total standard cost per test $52.80 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 900 tests were conducted, resulted in the following. Direct materials (1,890 test tubes) $3,402 Direct labor (945 hours) 27,405 Variable overhead 4,860 Fixed overhead 10,512 Monthly budgeted xed overhead is $16,080. Revenues for the month were $59,400, and selling and administrative expenses were $4,100. Compute the price and quantity variances for direct materials and direct labor. Materials price variance Materials quantity variance Labor price variance est/+5999 Labor quantity variance eTextbook and Media List of Accounts Compute the total overhead variance. Total Overhead variance $ eTextbook and Media List of Accounts \\/ A V A V A V A V Favorable Unfavorable Neither favorable nor unfavorable