The standard cost of product B manufactured by Waterway Company includes 3 units of direct materials at $5.55 per unit. During June, the company purchases 29,000 units of direct materials at a cost of $5.22 per unit and uses 29,000 units of direct materials to produce 9,500 units of product B. (a) Calculate the materials variance, and the price and quantity variances. Materials variance $ V Materials price variance $ v Materials quantity variance $ Unfavourable Neither favourable nor unfavourable Favourable _