DM variances Bell Inc. manufactures a product that requires five pounds of material. The purchasing agent has an opportunity to purchase the necessary material at a vendor's bankruptcy sale at $1.40 per pound rather than the standard cost of $2.10 per pound. The purchasing agent purchases 240,000 pounds of material on May 31. During the next four months, the company's production and material usage was as follows: Note: Round all of your final answers below to the nearest whole dollar. a. What is the material price variance for this purchase? Note: Do not use a negative sign with your answer. Material price variance $ b. What is the material quantity variance for each month for this material? Note: Do not use a negative sign with your answers. Note: Round all of your final answers below to the nearest whole dollar. a. What is the material price variance for this purchase? Note: Do not use a negative sign with your answer. Material price variance \$ ce for each month for this your answers. Please answer all parts of the