Direct Materials Variances The following data relate to the direct materials cost for the production of 2,500 automobile tires: Actual: 55,300 lbs. at $2.05 per lb. Standard: 54,200 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 using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance b. The direct materials price variance should normally be reported to the When lower amounts of direct materials are