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Required Information [The following information applies to the questions displayed below.) Hart Company made 3,160 bookshelves using 22,160 board feet of wood costing $285,864. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.80 per board foot. AOActual Quantity SQ - Standard Quantity AP Actual Price SP Standard Price 1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (2) Hart applies management by exception by Investigating direct materia's 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. Required Required 2 Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effects by favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs Duw. Required 1 Required 2 Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Tridicate the effect of each variance favorable, unfavorable, and no variance) Standard Co Actual Coat Required 2 > Required 1 Required 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? Which direct materials Variances will Hart investigate further?