Direct Materials Variances Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is $6 per pound. If 4,800 units used 58,800 pounds, which were purchased at $5.00 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 vanance b. Direct materials quantity variance Direct materials cost variance