Using the following product information, calculate the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used Direct materials standard ( 4 pounds (a) $25 per pound) 19,700pounds4,700units$531,900$100perunit AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Using the following product information, calculate the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used Direct materials standard ( 4 pounds (a) $25 per pound) 19,700pounds4,700units$531,900$100perunit AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance