Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.75 per pound. 16,000 units used 35,800 pounds, which were purchased at $3.90 per pound. What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance $    b. Direct materials quantity variance $    c. Direct materials cost variance $

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.75 per pound. 16,000 units used 35,800 pounds, which were purchased at $3.90 per pound.

What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

a. Direct materials price variance
 
b. Direct materials quantity variance
 
c. Direct materials cost variance $  
     
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