Please help by explaining how to fill out the chart. When explaining, put everything into chart form like above. Please and thank you.

P.S. I don't know if what I originally did above is correct or not.

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Hart Company made 3,400 bookshelves using 23,000 board feet of wood costing $287,500. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.40 per board foot. Exercise 23-13 Computation and interpretation of materials variances LO P2 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances incurred in manufacturing these bookshelves. Actual Cost Standard Cost AQ AQ SP SQ SP AP $ 12.50 23,000 23,000 287,500 $ 0 $ 0 $ o Unfavorable Direct materials price variance Direct materials quantity variance Total direct materials variance $ 0 Favorable Favorable