Direct Materials Variances Bellingham Company produces a product that requires five standard pounds per unit. The standard price is $4.5 per pound. If 5,900 units used 30,700 pounds, which were purchased at $4.27 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