Willow Inc. has provided the following information Per unit Standards: Direct materials Direct labor Variable overhead Fixed overhead 10 lb $4.60/lb $ 46.00 2 hours @ $34.50/hour 69.00 2 hours @ $19/hour38.00 15.00 Total $168.00 Budgeted production 7,200 units Actual results Materials Direct labor Variable overhead Fixed overhead Units produced 73,980 lbs 14,950 actual hours $338,253 $509,330 $290,690 $104,170 7,350 units a. Calculate the direct materials price variance. (Do not round your intermediate calculations. Indicate the effect of varian selecting "Favorable", "Unfavorable", or "None" for no effect (i.e ., zero variance).) Price Variance