Direct Materials Variances

Venneman Company produces a product that requires $8$ standard pounds per unit. The standard price is $$7\mathrm{.}00$ per pound. If $4,200$ units required $34,600$ pounds, which were purchased at $$7\mathrm{.}35$ 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 &

b$.$ Direct materials quantity variance $

c$.$ Total direct materials cost variance $$

$$

$$

$$

$$

$$

A

A