Lakewood Incorporated uses a standard cost system. Materials standards are 4.59 components per widget at $7.88 per component. During August, Lakewood Incorporated purchased 42,319 components for $329,242, using the components to produce 5,642 widgets. a. Calculate the direct materials price variance. Note: Do not round your intermediate calculations. Round your final answer to nearest whole number. 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: Round your final answer to nearest whole number. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). c. Calculate the direct materials spending variance. Note: Round your final answer to nearest whole number. 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. Spending Variance Unfavorable