Norris Company produces a product that requires six standard pounds per unit. The standard price is $1.25

Question:

Norris Company produces a product that requires six standard pounds per unit. The standard price is $1.25 per pound. If 500 units required 2,900 pounds, which were purchased at $1.30 per pound, what is the direct materials
(a) Price variance,
(b) Quantity variance, and
(c) Cost variance?