Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $6 per pound. If 6,500 units used 70,100 pounds, which were purchased at $6.3 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 variance Favorable Unfavorable b. Direct materials quantity variance c. Direct materials cost variance