7. Calculate the direct materials cost variance Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U). Actual Cost Standard Cost ) x Actual Quantity = Direct Materials Cost Variance 9.10 9.00 1,710 8. Calculate the direct materials efficiency variance Select the formula, then enter the amounts and compute the efficiency variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U) Actual Quantity 1,710 Standard Quantity 1,820 x Standard Cost ) x$ 9.00 - Direct Materials Efficiency Variance 990 F 9. Calculate the total direct materials variance and identify whether the variance is favorable or unfavorable The total direct materials variance is $ 819 favorable 10. Calculate the direct labor cost variance Select the formula, then enter the amounts and compute the cost variance for direct labor and identify whether the variance is favorable (F) or unfavorable (U) Actual Cost Standard Costx Actual QuantityDirect Labor Cost Variance $16.55 17.00 4,340 1,953 F