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Direct Materials Variances Alvarado Company produces a product that requires 1 0 standard pounds per unit. The standard price is $ 7 . 0 0

Direct Materials Variances
Alvarado Company produces a product that requires 10 standard pounds per unit. The standard price is $7.00 per pound. If 3,100 units used 31,600 pounds, which were purchased at $6.65 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.

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