5. Silicone Engine Inc. produces wrist-worn tablet computers. The company uses Thin Film Crystal (TFC) LCD displays for its products. Each tablet uses one display. The company produced 650 tablets during December. However, due to LCD defects, the company actually used 600 LCD displays during December. Each display has a standard cost of $6.40. LCD displays were purchased for December production at a cost of $3,660.Determine the price variance, quantity variance, and total direct materials cost variance for December. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. And, enter your final variance amounts to the nearest whole dollar.- **Price variance**: $ [Input Field]- **Quantity variance**: $ [Input Field]- **Total direct materials cost variance**: $ [Input Field]

Price variance = (Standard price - Actual price) x Actual Qty Quantity variance = (Standard qty - Actual qty) x Standard price Price variance = (Standard price - Actual price) x Actual Qty Price variance = ($6.40*600-$3,660) Price variance = -$180 Favorable Quantity variance = (Standard qty - Actual qty) x Standard price Quantity variance = (650 - 600)*$6.40 Quantity variance = -$320 Favorable Total direct material cost variance = (650*$6.40 - $3,660) Total direct material cost variance = -$500 Favorable