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 Willow Inc. has provided the following information: Standards: Direct materials Direct labor Variable overhead Fixed overhead Total Budgeted production = 7,200 units Actual results Materials Direct labor Variable overhead Fixed overhead Units produced 10 lbs @ $2.80/lb 2 hours @ $16.50/hour 2 hours @ $10/hour 75,000 lbs 14,050 actual hours. 7,300 units Per unit $28.00 33.00 20.00 15.00 $ 96.00 $208,395 $225,440 $146,960 $105,430 Ret