Direct Materials Variances

Tip Top Corp. produces a product that requires 16 standard gallons per unit. The standard price is $11.5 per gallon. If 5,700 units required 93,900 gallons, which were purchased at $11.04 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? 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 $______

b. Direct materials quantity variance $______

c. Direct materials cost variance $______