uuning the most recent month, the following activity was recorded: 1. Twelve thousand pounds of material were purchased at a cost of $2.90 per pound. 2. The company produced only 1,200 units, using 10,800 pounds of material. (The rest of the material purchased remained in raw materiais inventory) 3. 580 hours of direct labor time were recorded at a total labor cost of $6,980. Compute the materials price and quantity variances for the month. For the toolbar, press ALT+F10 (PQ) or ALT+FN+F10 (Mac). Ctick Sate and Submit to save and submir. Click Save All Ansuens to save all answers