EXERCISE 107 Direct Materials Variances L010-1 Refer to the data in Exhibit 10-6. Assume that instead of producing 4.000 units during the month, the company produced only 3,000 units, using 14,750 pounds of material. (The rest of the material purchased remained in raw materials inventory) Required: Compute the materials price and quantity variances for the month. EXERCISE 107 Direct Materials Variances L010-1 Refer to the data in Exhibit 10-6. Assume that instead of producing 4.000 units during the month, the company produced only 3,000 units, using 14,750 pounds of material. (The rest of the material purchased remained in raw materials inventory) Required: Compute the materials price and quantity variances for the month