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HectorInc.,whichproducesasingleproduct,haspreparedthefollowing standard cost sheet for one unit of the product.Direct materials (6 pounds at $2.50 per pound) $15.00 Direct labor (3.1 hours at $12.00 per hour) $37.20During the month of April, the company manufactures 250 units and incurs the following actual costs.Direct materials purchased and used (1,600 pounds) $4,192Direct labor (760 hours) $8,740InstructionsCompute the total, price, and quantity variances for materials and labor.

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