Problem 23-5A (Part Level Submission) Hart Labs, Inc. provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore, Hart Labs must constantly monitor and control its testing costs. Shown below are the standard costs for a typical test. $2.80 Direct materials (2 test tubes @ $1.40 per tube) Direct labor (1 hour @ $30 per hour) Variable overhead (1 hour @ $6.00 per hour) Fixed overhead (1 hour @ $12.00 per hour) Total standard cost per test 30.00 6.00 12.00 $50.80 The lab does not maintain an inventory of test tubes. As a result, the tubes purchased each month are used that month. Actual activity for the month of November 2017, when 1,400 tests were conducted, resulted in the following: Direct materials (2,828 test tubes) Direct labor (1,442 hours) Variable overhead Fixed overhead $3,478 40,376 7,560 16,366 Monthly budgeted fixed overhead is $16,800. Revenues for the month were $91,000, and selling and administrative expenses were $3,600. (a) Compute the price and quantity variances for direct materials and direct labor. (Round answers to O decimal places, e.g. 5,275.) Materials price variance $ Materials quantity variance $ Labor price variance $ Labor quantity variance Click if you would like to Show Work for this question: Open Show Work