Willow Inc. has provided the following information Standards Direct materials Direct labor Variable overhead Fixed overhead Per unit 10 lb @ $2.7 $ 27.00 2 hours @ $15.50/hour 31.00 2 hours @ $9/hour 18.00 20.00 $96.00 Total Budgeted production7,100 units Actual results Materials Direct labor Variable overhead Fixed overhead Units produced $195,115 $208,235 $132,450 $139,500 72,850 lbs 14.000 actual hours 7,400 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