Direct Materials Variances

Bellingham Company produces a product that requires 14 standard pounds per unit. The standard price is $8.5 per pound. If 4,200 units required 57,000 pounds, which were purchased at $8.76 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 7 standard hours per unit at a standard hourly rate of $22.00 per hour. If 2,600 units required 18,600 hours at an hourly rate of $21.56 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	$