[The following information applies to the questions displayed below.] Hart Company made 3,000 shelves using 22,000 pounds of wood costing $266,200. The company's direct materials standards for one shelf are 8 pounds of wood at $12 per pound. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by