Gates Company reports the following information regarding the production on one of its products for the month. Compute the direct materials cost variance, the direct materials price variance, the direct materials quantity variance and identify each as either favorable or unfavorable. 
Definitions:
Geometric Isomers
Molecules that have the same formula and sequence of bonded atoms, but differ in the three-dimensional orientations of their atoms in space.
Enantiomers
Two isomeric chemical compounds that are mirror images.
Carotenoids
A group of yellow to orange plant pigments synthesized from isoprene subunits; include carotenes and xanthophylls.
Vitamin A
An essential fat-soluble vitamin important for vision, growth, cell division, reproduction, and immunity.
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