Exercise 210 Purvis Manufacturing, which produces a singleproduct, has prepared the following standard cost sheet for oneunit of the product. Direct materials (6 pounds at $2 per pound)$12 Direct labor (2 hours at $12 per hour) $24 During the month ofApril, the company manufactures 300 units and incurs the followingactual costs. Direct materials purchased and used (1,850 pounds)$4,070 Direct labor (620 hours) $7,130 Compute the total, price, and quantity variances for materials and labor. Identify whetherthe variance is favorable or unfavorable?

Materials Labor TotalVariance $ $
Price Variance $ $
Quantity Variance $ $