Dvorak Company produces a product that requires five standard pounds per unit. The standard price is $

Question:

Dvorak Company produces a product that requires five standard pounds per unit. The standard price is $ 2.50 per pound. If 1,000 units required 4,500 pounds, which were purchased at $ 3.00 per pound, what is the direct materials
(a) Price variance,
(b) Quantity variance,
(c) Cost variance?