Required Information [The following information applies to the questions displayed below) Hart Company made 3,240 bookshelves using 22.240 board feet of wood costing $295,792. The company's dire matenals standards for one bookshelf are 8 board feet of wood at $13.20 per board foot AQ = Actual Quantity SQ - Standard Quantity AP = Actual Puce SP = Standard Price (1) Compute the direct materials price and quantity variances and classity each as favorable or unfavorable (2) Hart applies management by exception by investigating direct materiais variances of more than 5% of actual direct me Which direct materials vanances will Hartanvestigate 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 favorable, unfavorable, and no variance.) Actual Cost Standard Cost 0 $ 0 5 0 $ 0 Required 2 >