Chapter 9 Evaluating Variances from Standard Costs 443 EX 9-4 Direct materials variances Obj. 3 The following data relate to the direct materials cost for the production of 50,000 automobile tires: Actual: 725,000 lbs. at $3.00 per lb. Standard: 730,000 lbs. at $2.95 per lb. . Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. To whom should the variances be reported for analysis and control? b