Exercise 11-7 (Video) Your answer is partially correct. Try again. Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (8 pounds at $2.50 per pound) Direct labor (3 hours at $12.00 per hour) $20 $36 During the month of April, the company manufactures 230 units and incurs the following actual costs. Direct materials purchased and used (1,900 pounds) Direct labor (700 hours) $5,035 $8,120 Compute the total, price, and quantity variances for materials and labor. Total materials variance 2028 Unfavorable Materials price variance Unfavorable Materials quantity variance Unfavorable Total labor variance Favorable V Labor price variance Favorable Labor quantity variance Unfavorable Click if you would like to Show Work for this question: Open Show Work ed/assignment/test/agistanilidt smt2476297