Direct Materials Variances Bellingham Company produces a product that requires 10 standard pounds per unit. The standard price is 56 per pound. If 4,900 units used 50,000 pounds, which were purchased at 55.76 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost versance? 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 Favorable b. Direct materials quantity variance Favorable c. Direct materials cost varance Favorable