E$9-4($Algo$)$ Interpreting Direct Materials Price, Quantity Variances $[$LO $9-3]$

Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require $1\mathrm{.}70$ feet of leather and predicts leather will cost $$2\mathrm{.}90$ per foot. Suppose Perfect Pet made $65$ collars during February. For these $65$ collars, the company actually averaged $1\mathrm{.}90$ feet of leather per collar and paid $$2\mathrm{.}40$ per foot.

Required:

$1.$ Calculate the standard direct materials cost per unit.

$2.$ Without performing any calculations, determine whether the direct materials price variance will be favorable or unfavorable.

$3.$ Without performing any calculations, determine whether the direct materials quantity variance will be favorable or unfavorable.

$6.$ Calculate the direct materials price and quantity variances.