Direct Materials Variances Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is $9.5 per pound. If 4,400 units required 54,400 pounds, which were purchased at $9.69 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 $ Favorable Unfavorable Direct Labor Variances Bellingham Company produces a product that requires 9 standard hours per unit at a standard hourly rate of $15.00 per hour. If 4,600 units required 40,200 hours at an hourly rate of $15.60 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 $ Favorable Unfavorable Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $24.00 per hr. standard time per unit 3.50 hrs. Direct materials (oak): standard price $9.50 per bd. ft. standard quantity 19 bd. ft. Variable factory overhead: standard rate $2.40 per direct labor hr. Fixed factory overhead: standard rate $1.20 per direct labor hr. a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. $ per dining room table b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of Using this principle, cost deviations from standards can be investigated and corrected. cost control management by exception