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Direct Materials Variances Bellingham Company produces a product that requires 16 standard pounds per unit....

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Accounting

Direct Materials Variances

Bellingham Company produces a product that requires 16 standard pounds per unit. The standard price is $5 per pound. If 3,700 units used 57,400 pounds, which were purchased at $5.1 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

a. Direct materials price variance $ _____

b. Direct materials quantity variance $ _____

c. Direct materials cost variance $ _____

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