Direct Materials Variances Alvarado Company produces a product that requires 12 standard pounds per unit. The standard price is $6.00 per pound. If 3,900 units used 48,700 pounds, which were purchased at $6.24 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? 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