Direct Materials Variances The following data relate to the direct materials cost for the production of 2,200 automobile tires: Actual: 51,700 ib. at $1.70 Standard: 52,700 lb. at $1.75 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 Favorable Favorable Quantity variance Total direct materials cost variance X Favorable