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Willow Inc. has provided the following information: Standards Direct materials Direct labor Variable overhead Fixed overhead Per unit 10 lb@$3.80/lb S 38.00 2 hours@$26.50/hour 2 hours@$11/hour 53.00 22.00 25.00 Total $138.00 Budgeted production 7,000 units Actual results Materials 71.360 lbs 14,550 actual hours $269,313 $375,610 $166.610 $171.730 Direct labor Variable overhead Fixed overhead Units produced 7,300 units a. Calculate the direct materials price variance. (Do not round your intermediate calculations. Indicate the effect of variance by (i.e., zero variance).) Price Variance b. Calculate the direct materials quantity variance. (Indicate the effect of variar Quantity Variance c. Calculate the direct labor rate variance. (Do not round your intermediate calcul zero variance).) Rate Variance d. Calculate the direct labor efficiency variance. (Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no et Efidency Variance e. Calculate the variable overhead rate variance. (Do not round your intermediate calculations. Indicate the effect of variance by selecting "Fa (Le., zero variance).) Rate Variance 1. Calculate the variable overhead efficiency variance (Indicate the effect of variance by selecting "Favorable" "Unfavorable", or "None" for no g. Calculate the fixed overhead spending variance. (Indicate the'effect of variance by selecting "Favorable", "Un Spending Variance

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