Sparkles Company produces and sells a single product with the following standard for the product: Direct Materials 5 kgs. @ 1.50/kg = $7.50/unit Direct Labour 1.5 hrs. @ $11.00/hr. = $16.50/unit Actual costs and usage for the month is as follows: Units produced 1,400 Direct materials purchased $12,800 (8,000 kilograms) Direct materials used 7,500 kilograms Direct Labour Cost $22,500 (2,000 hours) Instructions Compute the price and quantity variances for both materials and labour for the month