no Labor Rate variance Compute the following variances: Figues your answers below and record your final in the space provided. Materials price variance Materials quantity variance: Total materials variance: Favorable or Unfavorable Favorable or Unfavorable Favorable or Unfavorable Favorable or Unfavorable Labor Efficiency variance: Favorable or Unfavorable Total spending variance: Favorable or Unfavorable Overhead total spending Variance: Favorable or Unfavorable