Direct Materials Variances Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is $5.5 per pound. If 2,200 units used 26,900 pounds, which were purchased at $5.34 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 4,304 b. Direct materials quantity variance S c. Direct materials cost variance $ Direct Labor Variances Bellingham Company produces a product that requires 10 standard direct labor hours per unit at a standard hourly rate of $19.00 per hour. If 3,900 units used 40,600 hours at an hourly rate of $18.43 per hour, what is the direct labor (a) rate variance, (b) time 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 labor rate variance b. Direct labor time variance c. Direct labor cost variance