Direct Materials VariancesAlvarado Company produces a product that requires seven standard pounds per unit. The standard price is $$8\mathrm{.}50$ per pound. If $4,600$ units used $30,900$ pounds, which were purchased at $$8\mathrm{.}93$ per pound, 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.Line Item DescriptionAmountVariancea. $$Direct materials price variance$fill in the blank $1$FavorableUnfavorableb. $$Direct materials quantity variance$fill in the blank $3$FavorableUnfavorablec. $$Direct materials cost variance$fill in the blank $5$FavorableUnfavorable