[The following information applies to the questions displayed below.] Hart Company made 4,300 bookshelves using 24,000 board feet of wood costing $271,200. The company's direct materials standards for one bookshelf are 6 board feet of wood at $11.20 per board foot.

(1) Compute the direct materials price and quantity variances incurred in manufacturing these bookshelves. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price

Actual Cost Standard Cost