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E9-3 Interpreting Direct Materials Price, Quantity Variances [LO 9-3] Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require
E9-3 Interpreting Direct Materials Price, Quantity Variances [LO 9-3] Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require 1.90 feet of leather and predicts leather will cost $3.30 per foot. Suppose Perfect Pet made 85 collars during February. For these 85 collars, the company actually averaged 2.10 feet of leather per collar and paid $2.80 per foot. 6. Calculate the direct materials price and quantity variances. (Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Material Price Variance $ 35.70 Direct Material Quantity Variance $ 106.59 U
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