Calculate the following variances (round to the nearest cent) Direct Materials Variances Tokarev Incorporated produces trinkets for home decor. Engineers at Tokarev established that the standard direct material to make a trinket was 1 pound of material $4.45 per pound. During December Tokarev used 1, 050 pounds of materials at an actual cost of $4.50 per pound to make 1, 112 trinkets. Compute the following variances: a.) direct materials price variance b.) direct materials quantity variance c.) total direct materials variance