Direct Materials Variances

The following data relate to the direct materials cost for the production of 2,100 automobile tires:

Actual:	58,400 lbs. at $1.95	$113,880
Standard:	56,600 lbs. at $2.00	$113,200

a. Determine the direct materials price variance, direct materials quantity variance, and 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.

Price variance	$
Quantity variance	$
Total direct materials cost variance	$