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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 automobile tires:
Actual: 62,000lbs. at $2.00 per lb.
Standard: 60,100lbs, at $1,95 per lb.
a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
\table[[Direct Materials Price Variance,$,Unfavorable
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