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The following data relate to the direct materials cost for the production of 2,500 automobile tires: Actual: 58,300 lbs. at $1.75 per lb. Standard: 56,600

The following data relate to the direct materials cost for the production of 2,500 automobile tires:

Actual: 58,300 lbs. at $1.75 per lb.
Standard: 56,600 lbs. at $1.70 per lb.

a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

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