Exercise 25-6 The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Actual labor rate Actual materials price Standard labor rate Standard materials price $15 per hour $188 per ton $14 per hour $191 per ton Quantitie Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 4,579 hours 1,770 tons 4,623 hours 1,749 tons (a) Compute the total, price, and quantity variances for materials and labor. Total materials variance Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance Click if you would like to show Work for this questioni Doen Show Work