The following data relate to the direct materials cost for the production of 20,000 automobile tires:

Actual:	80,000 lbs. at $2.65	$212,000
Standard:	86,000 lbs. at $2.50	$215,000

a.  Determine the price variance, quantity variance, and total direct materials cost variance. Enter favorable variances as negative numbers. Enter unfavorable variances as positive numbers.

Price variance	$fill in the blank 1	Unfavorable Variance
Quantity variance	fill in the blank 3	Favorable Variance
Total direct materials cost variance	$fill in the blank 5	Favorable Variance

Answer rating: 100% (QA)

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