Regent Corporation uses a standard cost system to account for the costs of its one product. Materials standards are 3 pounds of material at $14.00 per pound, and labor standards are 17 hours of labor at a standard wage rate of $9.7. During July, Regent Corporation produced 2,650 units. Materials purchased and used totaled 11,400 pounds at a total cost of $144,013. Payroll totaled $159,780 for 78,150 hours worked.

Required:

1. Calculate the direct materials price variance.

Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).

1. 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).

1. Calculate the direct materials spending variance.

Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).