Requlred Information Use the following Informatlon for the Exerclses below. (Algo) [The following Information applies to the questions displayed below.] Hart Company made 3,100 shelves using 22,100 pounds of wood costing $278,460. The company's direct materlals standards for one shelf are 8 pounds of wood at $1250 per pound. Exercise 21-13 (Algo) Computing and analyzing materials variances LO P3 AQ=ActualQuantltySQ=StandardQuantityAP=ActualPriceSP=StandardPrice 1. Compute the direct materlals price and quantlty varlances along with the total direct materlals varlance. 2. Hart applies management by exception by Investigating direct materlals varlances of more than 5% of actual direct materlals costs. Which direct materlals varlances 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 variance by selecting favorable, unfavorable, or no variance.)