Direct Materials Variances Silicone Engine Inc. produces wrist-worn tablet computers. The company uses Thin Film Crystal (TFC) LCD displays for its products. Each tablet uses one display. The company produced 650 tablets during December. However, due to LCD defects, the company actually used 550 LCD displays during December. Each display has a standard cost of $6.20. LCD displays were purchased for December production at a cost of $3,355. Determine the price variance, quantity variance, and total direct materials cost variance for December. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. And, enter your final variance amount to the nearest whole dollar. Price variance $ -55 Favorable Quantity variance $ 620 Favorable Total direct materials cost variance $ 565 Favorable