Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds per unt. The standard price is $3.75 per pound. 16,700 units used 37, . 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 answeis Open spreadsheet What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Eiter ia fave number using a minus sign and an unfavorable variance as a positive number. Feedback 7 Check My Work Unfavorable variances can be thought of as increasing costs (a debi) Favorable variances can be thought of as decreasing coets fa chedil Cost variance is the difference between the actual and standard total cost