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Direct Materials Variances The following data relate to the direct materials cost for the production...

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Accounting

Direct Materials Variances

The following data relate to the direct materials cost for the production of 2,200 automobile tires:

Actual: 49,600 lbs. at $1.7 $84,320

Standard: 48,100 lbs. at $1.65 $79,365

a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Price variance $?

Quantity variance $?

Total direct materials cost variance $?

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