Problem 1 of:? Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but require different amounts. Standard materials for both are shown. \begin{tabular}{|l|l|l|} \hline & Large & Small \\ \hline Rubber & 3 feet at $0.20 per foot & 1.5 feet at $0.20 per foot \\ \hline Connector & 1 at $0.05 & 1 at $0.05 \\ \hline \end{tabular} At the beginning of the month, Ed Co. bought 25,000 feet of rubber for $6,875. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,500 feet of rubber. A. Calculate the following variances and indicate whether the variance is favorable or unfavorable (show all calculations in Excel, record your variance answers in the grey cells and favorable/unfavorable in the blue cells): Favorable or Dollar amount of variance Unfavorable Direct materials price variance = Direct materials quantity variance =