Std/Budgeted direct materials costs are 7,500 pounds of material @ $2.20 per pound. Actual direct materials costs are 7,400 pounds @ $2.30 per pound. Calculate the following variances as favorable or unfavorable. 9 points You must show your calculations to receive credit. If you just give a final answer with no calculations, you were receive a zero regardless if the answer is correct. 1. Total Direct Materials Variance 2. Direct Material Quantity Variance 3. Direct material Price Variance