The following data relate to the direct materials cost for the production of 2,500 automobile tires:
Actual:
50,100 Ibs. at $2.05 per lb.
Standard:
49,100 Ibs. at $2.10 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.