UT QS 21-7 (Algo) Direct materials variances LO P3 A company reports the following for one of its products. 14.28 points Direct materials standard (8 pounds @ $10 per pound) Actual units produced Actual cost of direct materials used $ 80 per unit 110,000 units $ 8,828,000 01:52:30 Skipped Compute the total direct materials cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Direct materials variance eBook Favorable Hint Unfavorable No variance Print References