Direct Materials Variances Bellingham Company produces a product that requires seven standard pounds per unit. The standard price is $10.5 per pound. If 3,800 units used 27,100 pounds, which were purchased at $10.18 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 Unfavorable b. Direct materials quantity variance Favorable c. Direct materials cost variance