Direct Materials Variances Bellingham Company produces a product that requires 8 standard pounds per unit. The standard price is $6.5 per pound. If 3,000 units required 24,500 pounds, which were purchased at $6.37 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 $ Favorable b. Direct materials quantity variance $ Unfavorable c. Total direct materials cost variance $ Unfavorable