Required information [The following information applies to the questions displayed below] Hart Company made 3,200 bookshelves using 22,200 board feet of wood costing $290,820. The company's direct materials standards for one bookshelf are 8 board feet of wood at $13.00 per board foot AQ Actual Quantity Standard Quantity SQ Actual Price AP 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 costs. 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 variance by selecting for favorable, unfavorable, and no variance.) Actual Cost Standard Cost S 0 S Direct materials quantity variance Direct materials price variance 0 Total direct materials variance Required 1 Required 2 >