5:59 Silicon Inc. has provided the following information for the year ended December 31, Year 1. Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing cost Master Budget 5,000 units $35,000 15,000 8,000 16,000 $74,000 Actual Costs 4,500 units $32,500 12,500 7,800 17,500 $70,300 ces Knowledge Check 01 What is the direct materials spending variance? $1,000 favorable $1,000 unfavorable O $3,500 favorable