Direct Materials Variances Bellingham Company produces a product that requires 7 standard pounds per unit. The standard price is $11 per pound. If 2,300 units required 15,800 pounds, which were purchased at $11.55 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials 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. Total direct materials cost variance Direct Labor Variances Bellingham Company produces a product that requires 9 standard hours per unit at a standard hourly rate of $22.00 per hour. If 5,000 units required 44,100 hours at an hourly rate of $23.10 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance b. Direct labor time variance c. Total direct labor cost variance $