Exercise 23-5 Your answer is partially correct. Try again. The standard cost of Product B manufactured by Pharrell Company includes 2.0 units of direct materials at $6.9 per unit. During June, 27,500 units of direct materials are purchased at a cost of $6.85 per unit, and 27,500 units of direct materials are used to produce 13,700 units of Product B. Compute the total materials variance and the price and quantity variances Total materials variance 2060 Materials price variance 1370 Favorable Materials quantity variance 690 Favorable Compute the total materials variance and the price and quantity variances, assuming the purchase price is $6.95 and the quantity purchased and used is 26,500 units. Total materials variance Materials price variance Materials quantity variance Click if you would like to Show Work for this question: 55751 Favorable 1325Unfavorable 6900 Favorable Open Show Work