[The following information applies to the questions displayed below.] Hart Company made 3,800 bookshelves using 20,000 board feet of wood costing $258,000. The company's direct materials standards for one bookshelf are 6 board feet of wood at $12.80 per board foot.

Exercise 8-13 Computation and interpretation of materials variances LO P2

(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
?		?		?		?		?		?
?				?		?		?		?
	?
?					?
?					?
?				?	?

Note: Please solve the problem completely. Thank you.