Question 8 Windsor Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (10 pounds at $3.40 per pound) Direct labor (6 hours at $12.00 per hour) $34.00 $72.00 During the month of April, the company manufactures 340 units and incurs the following actual costs. Direct materials purchased and used (2,500 pounds) $8,750 Direct labor (2,080 hours) $24,544 Compute the total, price, and quantity variances for materials and labor. Total materials variance Materials price variance Materials quantity variance Neither favorable por unfavorable Total labor variance Unfavorable Labor price variance Favorable Labor quantity variance