Direct Materials Variances Bellingham Company produces a product that requires 16 standard pounds per unit. The standard price is $9 per pound. If 5,200 units used 86,500 pounds, which were purchased at $8.64 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance $ - 29,952 Favorable b. Direct materials quantity variance 3,300 Unfavorable c. Direct materials cost variance $ -31,140 Favorable

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing t…