Exercise 11-5 (Video) The standard cost of product manufactured by Pharrell Company includes 3.2 units of direct materials at $6.60 perunt. During June, 27,000 units of direct materials are purchased at a cost of $6.45 per un and 27,000 units of direct materials are used to produce 8,300 units of Products Compute the total materiais variance and the price and quantity wariances Total materials variance Materials price variance Materiais quantity wariance Compute the total materiais variance and the price variances, assuming the p hase s quantity purchased and used is 27,000 units Tomar verance Materials price variance