Question 1 of 3 > 6/12 Hart Labs, Inc. providers mad cow disease testing for both state and federal government agricultural agencie. Because company's customers are governmental agencies, prices are strictly regulated. Therefore, Hart Labs must contaminard control its tasting costs. Shown below are the standard costs for a typicat $3.00 30.00 Direct materiais (2 test tubos e S1.00 per tube) Direct labor (1 hour $30 per hour Variable overhead (1 hour $7.00 per houn Fixed overhead (1 hour a $12.00 per hour Total standard cost per test 7.00 12.00 $52.80 The lab does not maintain an inventory of test tubes. As a result, the tubes purchased each month are used that month. Actu activity for the month of November 2020, when 1.100 tests were conducted resulted in the folowing $4.158 Direct materials (2,310 test tubes) Direct labor (1.155 hours) 33,495 7.106 Variable overhead 13.101 Fixed overhead Assignment and bonus Question 1 of 3 6/12 > fal Your answer is com Compute the price and it variances for direct mails and direct labor Material price variance $ Fare 5 Material quantity variance $ Favorabo Labor price viance $ Labor quantity wariance eTextbook and Media List of Accounts Attempts: 2 of 3 used Sales Revenue Cost of Service Provided Gross Profit (at Standard) Variances Materials Price Variance $ 73.700 Favorable Labor Price Variance Favorable Overhead Variance Favorable Materials Quantity Variance Unfavorable Labor Quantity Variance Unfavorable Total Variance Favorable Gross Profit (Actual) 6/12 73.700 Favoro Fanti Uno Untivo -81 + 1 0 - - 9 4 V 6 8 7 7 A o Y U P 1 1 2 Of t G . H 1 J L 3 P F ? > 3 S B y i N M3 9 A. all 92 cmd