Direct materiais variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.55 per pound, 15,800 units used 35,500 pounds, which were purchased at $3.75 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 untavorable varlance as a positive numbet. a. Direct materials price variance b. Direct materials quantity variance c. Direct materials cost varlance The following data is provided for Bellingham Company DATA Resources requirements, standard pounds per un Resources' standard price, per pound Units produced Resources used for production, pounds O Resources' actual price, per pound 11 23 $3.55 15,800 35,500 $3.75 Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the Amount column Select the corresponding type of variance in the dropdowns in cells D15 D17. Transfer the numenic results for the green entry cells (C15 C17) into the appropriate fields in CNOW2 for grading. 12 13 14 Amount Formulas 15 Direct materials price variance b Direct materials quantity variance 17 c Direct materials cost variance 16