E9-3 Interpreting Direct Materials Price, Quantity Variances [LO 9-3 Perfect Pet Collar Company makes custom leather pet collars. The company expects each coilar to require 1.55 feet of leather and predicts leather will cost $2.60 per foot. Suppose Perlect Pet made 50 collars during February. For these 50 collars, the company actually averaged 1.85 feet of leather per collar and paid $2.10 per fool Required: 1. Calculate the standard direct materials cost per unit. (Round your answer to 2 decimal places.) per Collar 2. Without performing any calculations, determine whether the direct materials price variance will be favorable or unfavorable 3. Without performing any calculations, determine whether the direct matorials quantity variance will be favorable or unfavorable