Willow Inc. has provided the following information: Standards: Direct materials Direct labor Variable overhead Fixed overhead Total Per unit 10 lbs @ $4.40/1b $ 44.00 2 hours @ $32.50/hour 65.00 2 hours @ $17/hour 34.00 25.00 $168.00 Budgeted production = 7,000 units 71,900 lbs 14,850 actual hours Actual results Materials Direct labor Variable overhead Fixed overhead Units produced $314,355 $472,640 $259,070 $171,310 7,300 units a. Calculate the direct materials price variance. (Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).) Price Variance b. Calculate the direct materials quantity variance. (Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).) Quantity Variance c. Calculate the direct labor rate variance. (Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).) Rate Variance d. Calculate the direct labor efficiency variance. (Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).) Efficiency Variance e. Calculate the variable overhead rate variance. (Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).) Rate Variance f. Calculate the variable overhead efficiency variance. (Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).) Efficiency Variance g. Calculate the fixed overhead spending variance. (Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).) Spending Variance