Direct Materials Variances Bellingham Company produces a product that requires five standard pounds per unit. The standard price is $5 per pound. It 2,900 units used 15,100 pounds, which were purchased at 54.8 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 materiais quantity variance c Direct materials cost variance