CW Due 3/25/21 BE 23-1 Direct Materials Variances Under Section 23-7e. Make sure to state the formulas before showing calculations everywhere required. Only answers without formulas and calculations will give you zero points. Thank you, Obj. 3 BE 23-1 Direct materials variances Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is $3.75 per pound. If 15,000 units used 36,000 pounds, which were purchased at $4.00 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance