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Required information Whe following information applies to the questions displayed belowi) Hart Company mode 3,020 shelves using 22,020 pounds of wood costing $268,644. The company's dlrect materials standards for one shelf are 8 pounds of wood at $1210 per pound. AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price 1. Compute the direct materials price and quantity valiances 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? Complete this question by entering your answers in the tabs below. Compute the direct matdrials price and quantity variances along with the total direct materials vanance. (lndicate the ittect of each variance by selecting fovorable, unfavorable, or no variance.) Required information [The following information applies to the questions displayed below.] Hart Company made 3,020 shelves using 22.020 pounds of wood costing $268.644. The company's direct materials standards for one shelt are 8 pounds of wood at $1210 per pound. Hart Comparyy uses a standard costing system. Prepare the journal entry to charge direct materlals costs to Work in Process Inventory and fecord the direct materials vatiances