of $2.00 per pound of clay. Flower City produced 3,125 planters in May. In that month, 78,125 pounds of clay were purchased and used at the total cost of $150,000 Read the requirements. Requirement 1. Calculate the direct material price variance. variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials) Requirements 1. Calculate the direct material price variance. 2. Calculate the direct material quantity variance