Direct Materials Variances Venneman Company produces a product that requires 15 standard pounds per unit. The standard price is $6.50 per pound. If 3,700 units required 53,300 pounds, which were purchased at $6.63 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) 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. a. Direct materials price variance 1 6,929 Unfavorable

b. Direct materials quantity variance -14,300 Favorable

c. Total direct materials cost variance $fill in the blank 5 Favorable