The standards for product C specify 2.5 feet of hardwood at a cost of 3.75 per foot. Last month, the company manufactured 5,000 units of product C using 15,000 feet of hardwood with a total cost of 29,000. Show all relevant calculations, and give your final answer(s) in total amounts (not per unit). Discuss whether the variances are favorable or unfavorable. a) What was the materials quantity variance? b) What was the materials price variance? c) What was the spending variance