Test, Inc. is in the business of producing study materials for exams. Test has some information related to its operations provided. Calculate the required variances for this problem using the given information. Test produced 700,000 test preparation documents. At the end of the period, Cilantro found that its costs were $0.92 in materials per unit and $11.50 per hour in labor for the tests. Test Inc. expected costs of $0.93 in materials per unit and $10 per hour labor for sauces. Test expected to use .05 Direct Labor hours per test, but found that they actually used .03 Direct Labor hours per test. REQUIRED: 1) Calculate the Price, Quantity, and Total Variance for Direct Materials. Interpret the results from this analysis to receive credit. 2) Calculate the Price, Quantity, and Total Variance for Direct Labor. Interpret the results from this analysis to receive credit.