1 Tip Top Corp. produces a product that requires seven standard gallons per unit. The standard price is $10 per gallon. If 4,000 units required 29,100 gallons, which were purchased at $9.8 per gallon, 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$fill in the blank 1FavorableUnfavorableb. Direct materials quantity variance$fill in the blank 3FavorableUnfavorablec. Direct materials cost variance