! Required information [The following information applies to the questions displayed below) Hart Company made 3,400 bookshelves using 22,400 board feet of wood costing $315,840. The company's direct materials standards for one bookshelf are 8 board feet of wood at $14.00 per board foot. AQ = Actual Quantity SQ - Standard Quantity AP - Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (2) Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials cost Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 es Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each variance favorable, unfavorable, and no variance) Standard Cost Actual Cost 0 5 0 5 0 $ Required information SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (2) Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials cos Which direct materials variances will Hart Investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each varian favorable, unfavorable, and no variance) Actual Cost Standard Cost 0 $ 0 $ 0 $ $ 0 Required 2 > materials standards for one bookshelf are 8 board feet of wood at $14.00 per board foot. company's a AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (2) Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct Which direct materials variances will Hart Investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Hart applies management by exception by investigating direct materials variances costs. Which direct materials variances will Hart investigate further? more than 5% of actual direct material Which direct materials variances will Hart investigate further?