Standard Cost Joumal Entries Bellingham Company produced 3,800 units that require 14 standard pounds per unit at a $6.5 standard price per pound. The company actually used 52,200 pounds in production Soumalize the entry to record the standard direct materials used in production. For a compound transaction, if an amount box does not require an entry, leave it blank Work in Process Direct Materials Quantity Variance Materials Feedback TO My Work A debit balance in the Direct Materials Quantity Variance account represents an unfavorable variance. Likewise, a credit balance in the Direct Materiale Quantity Variance account represents a favorable variance Learning Objectives a Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $11.5 per pound. If 3,500 units used 40,000 pounds, w were purchased at $11.27 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance 92,000 X Favorable b. Direct materials quantity variance -17,250 X Unfavorable * V c. Direct materials cost variance -8,050 x Unfavorable Check My Word Unfavorable variances can be thought of an increasing costs (a debit). Favorable variances can be thought of as decreasing costs (a credit) Cost variance is the difference between the actuat and standard total cost Learning Objectives