Direct Materials Variances

Bellingham Company produces a product that requires 9 standard pounds per unit. The standard price is $5 per pound. If 5,000 units required 46,800 pounds, which were purchased at $4.75 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials 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		Favorable/Unfavorable
b. Direct materials quantity variance		Favorable/Unfavorable
c. Total direct materials cost variance		Favorable/Unfavorable