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Hart Company made $3,360$ shelves using $22,360$ pounds of wood costing $$310,804.$ The company's direct materials standards for one shelf are $8$ pounds of wood at $$13\mathrm{.}80$ per pound.

Exercise $21-13($Algo$)$ Computing and analyzing materials variances LO P$3$

AQ $=$ Actual Quantity

SQ $=$ Standard Quantity

AP $=$ Actual Price

SP $=$ Standard Price

$1.$ Compute the direct materials price and quantity variances along with the total direct materials variance.

$2.$ 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?