The follow Direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs: actual labor rate $13 per hour, actual materials price $128 per ton, standard labor rate $12.50 per hour, standard materials price $130 per ton Quantities: actual hous incurred and used 4,150 hours, actual quantity of materials purchased and used 1,220 tons, standard hours used 4,300, standard quanity of materials used 1,200 tons . Instructions. Compute the total, price, and quanity variances for materials and labor.