Problem 2: Direct Material and Direct Labor Variances Robles Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $2 per pound) $12 Direct labor (2 hours at $12 per hour) $24 During the month of April, the company manufactures 300 units and incurs the following actual costs. Direct materials purchased and used (1,850 pounds) $4,070 Direct labor (620 hours) $7,130 Instructions Compute price, and quantity variances for materials and labor