Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.75 per pound. 16,700 units used 37,000 pounds, which we purchased at $3.95 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below Open spreadsheet What is the direct materials (a) price vanance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a neg 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 Feedback $ 7,400 Unfavorable Favorable Unfavorable