Direct materials variances The following data is provided for Bellingham Company: DATA Resources' requirements, standard pounds per un Resources' standard price, per pound Units produced Resources used for production, pounds Resources' actual price, per pound 2.3 $3.35 16,000 36,400 $3.55 Direct materiais variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.35 per pound. 16,000 units used 36,400 pounds, which were purchased at $3.55 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. 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 $ 7,280 Unfavorable b. Direct materials quantity variance $ 1,340 X Favorable c. Direct materials cost variance $ Unfavorable