Direct Materials Variances

Bellingham Company produces a product that requires 16 standard pounds per unit. The standard price is $6 per pound. If 2,800 units used 43,000 pounds, which were purchased at $6.12 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	$fill in the blank 1	Favorable OR Unfavorable
b. Direct materials quantity variance	$fill in the blank 2	Favorable OR Unfavorable
c. Direct materials cost variance	$fill in the blank 3	Favorable OR Unfavorable