! Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Hart Company made 3,200 bookshelves using 28,000 board feet of wood costing $344,400. The company's direct materials standards for one bookshelf are 10 board feet of wood at $12.20 per board foot. Exercise 23-13 Computation and interpretation of materials variances LO P2 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances incurred in manufacturing these bookshelves. Actual Cost Standard Cost 0 5 0 $ 0 S 0 S 0