Direct Materials Variances The following data relate to the direct materials cost for the production of automobile tires: Actual: 54,400 lbs. at $1.95 per lb. Standard: 53,300 lbs. at $2.00 per lb. 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 usi a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance