BTS Company made 4,600 bookshelves using 22,700 board feet of wood costing $283,750. The company's direct materials standards for one bookshelf are 8 board feet of wood at $15 per board foot.
 
 (1)Compute the direct materials variances incurred in manufacturing these bookshelves. (State favorable, unfavorable or zero variance)
 Price Variance =
 Quantity Variance =
 Total Materials Variance =