Direct Materials Variances Bellingham Company produces a product that requires six standard pounds per unit. The standard price is $7 per pound. If 5,100 units used 31,500 pounds, which were purchased at $7.21 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 $