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Required Information [The following information appiles to the questions displayed belowc]. Hart Company made 3,040 sheives using 22040 pounds of wood costing 5271092 . The company's direct materieis standards for one 5 heif are 8 pounds of wood at $1220 per-pound AD= Actual Quantity 50 - Standard Quantity AP = Actual Price SP - Stnndard Price. 1. Compute the direct materials price and quantity varlances along with the total airect materials variance. 2. Hart opples management by exception by investigating direct materials variances of more than 5 th of actual direct moterials costs. Which direct materlals variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compote the direct materials price and quanety variances along with the total direct materiels variance. (incilcate the elfect of each vaniance by salectog favorable, unfavsrable, oe pro varlance.) Required 2