Direct materials variances Eellingham Company produces a product that requires 2.5 standard pounds per unit. The standard jeice is 43.75 per pound. 15,500 units used 37,000 pounds, which were purchased at 53,95 per pound. This information has been collected in the Microsoft Excel Oniline file. Open the spreadshent, performt the requirnd analysis, and inpue your answers in the questions below. Open ipreadsheet What is the direct materials (a) price varance, (b) quantity variance, and (c) cast variancel Round your answers to the nearest dollar. Enter a favorable variance as a negative mumber using a minus sign and an unfavoratile variance as a positive number. a. Direct materials price variances b. Direct materials quantity variance c. Direct materials cost variance $ Fedodagh - Check Mey Viotk Unfavorabwe visiatices can be thought of as increasing costs (a debin). Favorable variances can be thought of as decteasing coste (a credit). Cott varance is the difference between the actual and standard total oost