Levine Inc. which produces a single product, has prepared the following standard cost sheet for one unit of the product Direct materials (6 pounds at $160 per pound) $9.60 Direct labor (6 hours at $10.00 per hour) $60.00 During the month of April, the company manufactures 310 units and incurs the following actual costs $4,080 Direct materials purchased and used (2 400 pounds) Direct labor (1,880 hours) $18.612 Compute the total price and quantity variances for materials and labor Total materials variance S Unfavorable Materials price variance $ Materials quantity variance S 1 $ Total labor variance $ Labor price variance Labor quantity variance