Portia Company has prepared the following cost detail for one unit of Coldfreem, its world renowned product. Direct materials (7 pounds at $4.50 per pound) Direct labor (5 hours at $18.80 per hour) During the month of June, Portia manufactured 500 Coldfreems and incurred the following actual costs. Direct materials purchased and used (3,700 pounds) = $14,800 Direct labor (2,400 hours) = $45,000 Indicate the following: | AQ SQ AP SP AH SH AR SR Portia Company (continued) Memorization Table Material Price Variance Material Quantity Variance Labor Price Variance Labor Quantity Variance 1. What is the materials price variance? 2. What is the materials quantity variance? 3. What is the total materials variance? Portia Company (continued) 4. What is the labor price variance? 5. What is the labor quantity variance? 6. What is the total labor variance