The direct materials and direct labor data shown below pertain to the operations of Laurel Manufacturing Company for the month of August.CostsActual labor rate$13per hourActual materials price$132per tonStandard labor rate$12per hourStandard materials price$136per tonQuantitiesActual hours incurred and used4,605 hoursActual quantity of materials purchased and used1,143 tonsStandard hours used4,700 hoursStandard quantity of materials used1,122 tonsa)Compute the total, price, and quantity variances for materials and labor.
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