EX $9-4$ Direct materials variances

Obj. $3$

The following data relate to the direct materials cost for the production of $50,000$ automobile tires:

$\backslash$table$[[$Actual:$,725,000lbs.$ at $$3\mathrm{.}00$ per lb$.],[$Standard: $,730,000lbs,$ at $$2\mathrm{.}95$ per lb$.,]]$

a$.$ Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.

b$.$ To whom should the variances be reported for analysis and control?