Ferry Chemical uses a standard cost system to account for the costs of its production of Chemical X. Standards are 1.4 gallons of materials at $105 per gallon and 10 hours of labor at a standard wage rate of $12. During September, Ferry Chemical produced 2.600 gallons of Chemical X Ferry Chemical purchased and used 3,560 gallons of materials at a total cost of $380,920. Payroll totaled $302,617 for 25,430 hours worked. Required: a. Calculate the direct materials price variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). b. Calculate the direct materials quantity variance Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).) c. Calculate the direct labor rate variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). d. Calculate the direct labor efficiency variance. Note: Indicate the effect of variance by selecting "Favorable". "Unfavorable", or "None" for no effect (i.e., zero variance). a Price Variance b. Quantity Variance c. Rate Variance d Efficiency Variance