Complete the following graphic to compute the direct materials price variance, the direct materials quantity variance, and the total direct materials cost ? R.COST.V... ariance for your shoe-making business. When required, enter the rates as dollars and cents. If required, use the minus sign to indicate a negative value. RIALS.C... Illustrated Example: Calculating Direct Materials Cost Variance VARIANCE Actual Cost Standard Cost Actual Materials X Actual Rate Actual Materials X Standard Rate Standard Materials X Standard Rate X X X Direct Materials Price Variance Direct Materials Quantity Variance U Y U V