Question 16 Levine Inc, which produces a single product, has prepared the following standard cost sheet for ore unit of the product Direct materials (B pounds at $ 3.30 per pound $26.40 Direct labor (1 hours at $12.00 per hour) 5 1200 During the morith of April, the company manufactures 240 units and incurs the following actual custs Direct materials purchased and used ( 2.300 pounds Direct labor (280 hours) B.050 3,.304 Compute the total, price. and quantity variances for matrials andlabor Total materias variance5 Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quanitityvariance