please post full answer only

+ Ch 11 - Homework Question 6 of 6 = 3 View Policies Current Attempt in Progress Concord Labs, Inc. provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore, Concord Labs must constantly monitor and control its testing costs. Shown below are the standard costs for a typical test. $3.40 Direct materials (2 test tubes @ $1.70 per tube) Direct labor (1 hour $32 per hour) Variable overhead (1 hour $7.00 per hour) 32.00 7.00 Fixed overhead (1 hour @ $13.00 per hour) 13.00 Total standard cost per test $55.40 The lab does not maintain an inventory of test tubes. As a result, the tubes purchased each month are used that month. Actual activity for the month of November 2022, when 1,300 tests were conducted resulted in the following $4,368 41,509 Direct materials (2,730 test tubes) Direct labor (1,339 hours) Variable overhead Fixed overhead 8,580 16,211 Monthly budgeted fixed overhead is $18.460. Revenues for the month were $84.500, and selling and administrative expenses were $3,600. (a) Compute the price and quantity variances for direct materials and direct labor. Materials price variance Ch 11 - Homework 3 Question 6 of 6 Fixed overhead 16,211 Monthly budgeted fixed overhead is $18.460. Revenues for the month were $84,500 and selling and administrative expenses were $3,600 (a) Compute the price and quantity variances for direct materials and direct labor. $ Materials price variance 0 22 $ Materials quantity variance 0 Labor price variance $ Labor quantity variance $ . 0 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above (c) The parts of this question must be completed in order. This part will be available when you complete the part above