Exercise 10-7 Direct Materials Variances [L010-1] unit of Zoom are given below Direct naterials $11.50 During the most recent month, the following activity was recorded a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound b. The company produced only 3.000 units, using 14,750 pounds of material. (The rest of the material purchased remained in raw C. 750 hours of direct labor time were recorded at a total labor cost of $14.925