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Required information Use the following information for the Exereises below. (Algo) [The following information applies to the questions displayed below.] Hart Company made 3,380 shelves using 22,380 pounds of wood costing $313,320. The company's direct materials standards for one shelf are 8 pounds of wood at $13.90 per pound. Exercise 21-13 (Algo) Computing and analyzing materials variances LO P3 AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice 1. Compute the direct materials price and quantify variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials voriances will Hart investigate further? Complete this question by entering your answers in the tabs below. Compute the direct matenaln price and quantity vanances along with the total direct materiats variance. (Indicate the effoct of each variance by selectiog favoratie, unfavorsbife, ar no variance.) Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Hait Company made 3,380 shelves using 22,380 pounds of wood costing $313,320. The company's direct materials standards for one shelf are 8 pounds of wood at $13.90 per pound. Exercise 21-13 (Algo) Computing and analyzing materials variances LO P3 AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP = Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materiais variances of more than 5% of actual direct material5 cost5. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Hatt appbies management by exception by investigating direct materials variances of more than 5% of actual direct materiais conts. Which direct materials varionces will Hart investigate further