Use the following information to answer Questions 16-18: Sheen, Inc. has collected the following data on one of its products:

Direct Materials Standard per Finished Unit (8 Lbs. @ $0.50 per Lb.) $4.00 per Unit

Actual Finished Units Produced 12,500 Units

Actual Direct Materials Used 125,000 Lbs.

Actual Direct Materials Cost $57,500

16 . The direct materials PRICE variance is:

A. $5,000 Favorable

B. $5,000 Unfavorable

C. $7,500 Unfavorable

D. $12,500 Favorable

E. $12,500 Unfavorable

17 . The direct materials QUANTITY variance is:

A. $5,000 Favorable

B. $5,000 Unfavorable

C. $7,500 Unfavorable

D. $12,500 Favorable

E. $12,500 Unfavorable

18 . The total direct materials cost variance is:

A. $5,000 Favorable

B. $5,000 Unfavorable

C. $7,500 Unfavorable

D. $12,500 Favorable

E. $12,500 Unfavorable