Problem 26-05A a c (Part Level Submission) (Video) 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. $3.00 31.00 7.00 12.00 $53.00 Direct materials (2 test tubes @ $1.50 per tube) Direct labor (1 hour $31 per hour) Variable overhead (1 hour$7.00 per hour) Fixed overhead (1 hour 8 $12.00 per hour) Total standard cost per test The lab does not maintain an inventory of test tubes. As s result, the tubes purchased each month are used that month. Actual activity for the month of Novenber 2020, when 800 tests were conducted, resulted in the following Direct materials (1,680 test tubes) Direct labor (824 hours) Variable overhead Fixed overhead $2,352 24,720 4,712 Monthly budgeted fixed overhead is $17,880. Revenues for the month were $52,000, and selling and administrative expenses were $4,600 Compute the price and quantity voriances for direct matenals and direct labor Materials price variance Compute the price and quantity variances for direct materials and direct labor. Materials price variance Materials quantity variance Labor price variance Labor quantity variance By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor SAVE FOR LATER SUBMIT ANSWER Attempts: O of 3 used SUBMIT ANSWER The parts of this question must be completed in order. This part will be available when you complete the part above