Required information Use the following information for the Exereises below. (Algo) The following information applies to the questions displayed below. Hart Company made 3,380 shelves using 22,380 pounds of wood costing $313,320. The compamys direct materlals standards for one sheif are 8 pounds of wood at $13.90 per pound Exercise 21-13 (Algo) Computing and analyzing materials variances LO P3 AQ - Actual Quantity 5O= 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 irvestigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigote further? 1. Compute the direct materials paice and quantity variances along with the total direct materiais variance. 2. Hart applies management by exception by investigating direct materiais 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. Compute the direct materials price and quantity variances along with the total direct materials variance. (Indicate the effect of each varlance by selecting favorable, unfavsathle, of no variance.) 1. Compute the direct materiais price and quantity variances along with the fotal 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? Complete this question by entering your answers in the tabs below. Hart applies management by exception by investigating direct materiais variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further