hw ch 21

Required infermation [The following information applies to the questions disployed below] Hart Company made 3,100 shelves using 22,100 peunds of wood costing $278,460. The conpany/s direct materials standards for one shelf are 8 pounds of wood at $12.50 per pound. AQ=ActualQuontitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice. 1. Compute the direct materials price and quantity variances along with the total direct materials varionce. 2. Hart applies management by exception by inwestigating 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 materials price and quantiy variances along with the total direct materials variance. (thdicate the effect of each variance by sulecting favorabie, unfovorable, or no variance.) 2. Hart applies management by exception by investigating direct materials variances of more than 5 , of actual direct moterials costs: Which direct materials variances will Hart investigote further? Complete this quention by entering your answers in the tabs below. Compute the direct materials price and quantity variances along wath the total direct materials variance. (Indicate the effect of each variance by selecting fworable, unfavorabie, or no virianco.)