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. $3.60 terials (2 test tubes @ $1.80 per tube) or (1 hour @ $32 per hour) verhead (1 hour @ $7.00 per hour) head (1 hour @ $12.00 per hour) ndard cost per test 32.00 7.00 12.00 $54.60 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) Variable overhead $4,284 38,688 7,068 Direct materials (2,520 test tubes) Direct labor (1,248 hours) Variable overhead Fixed overhead $4,284 38,688 7,068 14,940 Monthly budgeted fixed overhead is $16,320. Revenues for the month were $79,200, and selling and administrative expenses were $4,000. Compute the price and quantity variances for direct materials and direct labor. Materials price variance $ Materials quantity variance $ Labor price variance $ Labor quantity variance $ Monthly budgeted fixed overhead is $16,320. Revenues for the month were $79,200, and selling and administrative expenses were $4,000. Compute the price and quantity variances for direct materials and direct labor. Materials price variance $ Materials quantity variance $ Labor price variance $ Labor quantity variance $ Compute the total overhead variance. Total Overhead variance $ $ HART LABS, INC. Income Statement