Direct labor variances Bellingham Company produces a product that requires 4 standard direct labor hours per unit at a standard hourly rate of $20.00 per hour. 15,100 units used 64,800 hours at an hourly rate of $19.30 per hour. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorab variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.35 per pound. 16,300 units usec 36,000 pounds, which were purchased at $3.50 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. 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. Direct materials cost variance $$$XXX Feedback Check My Work Unfavorable variances can be thought of as increasing costs (a debit). Favorable variances can be thought of as decreasing costs (a credit)