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Direct Materials Variances Bellingham Company produces a product that requires 15 standard pounds per unit. The standard price is $6 per pound. If 4,700 units required 71,900 pounds, which were purchased at $5.88 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) 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. a. Direct materials price variance b. Direct materials quantity variance c. Total direct materials cost variance $ Direct Labor Variances Bellingham Company produces a product that requires 7 standard hours per unit at a standard hourly rate of $9.00 per hour. If 4,300 units required 31,000 hours at an hourly rate of $8.55 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance b. Direct labor time variance c. Total direct labor cost variance