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Regent Corporation uses a standard cost system to sccoynt for the coste of ite one product. Materials standards are 3 pounds of materjal at $14 per lb, and labor standards are 17 hours of labor at a standard wage of 9.7 dollars. During July, Regent Corporation produced 2650 units. Materials purchased and used totaled 11400 lbs at a total cost of 144013. Payroll totaled 159780$ for 78150 hours worked.

a) calculate the direct materials price variance

b) calculate the direct materials wuantity variance

c) calculate the direct materials spending variance

material at $14,00 per pound, and labor standards are 17 hours of labor at a standard wage rave ol cost of $144,013. Payroll totaled Corporation produced 2,650 units Required: a. Calculate the clirect materials price variance. Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (li.e., zero varionce). b. Calculate the direct moterials quantity variance. Note: Indicote the effect of variance by selecting "Fovorable", "Unfovorable", or "None" for no effect (i.e., zero varionce). c. Calculate the direct materials spending varience. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance)

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