Direct Materials Variances Bellingham Company produces a product that requires five standard pounds per unit. The standard price is $11.5 per pound. If 3,700 units used 18,900 pounds, which were purchased at $10.92 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 $