Question 2: Shanghai Toy Company produced 10,000 stuffed bears. The standard direct-materials allowance is 1.75 kg per bear, at a cost per kg of $3. Actually, 16,500 kg of materials (input) were purchased and used to produce the 10,000 bears(output) and $3.5 paid for per kg of material. Similarly, the standard allowances for direct labor is 4.6 hours to produce one bear, and the standard hourly labor cost is $6. But 46,700 hours used and $291,875 paid to produce the 10,000 bears. Required: Compute the price and Quantity variances for direct materials and direct labor. [ 8 Marks ]