SpinMi Corp. uses a standard cost system. Standards are 4.0 sheets of Winch nickel at $111 per sheet and 14.0 hours of labor at a standard wage rate of $14. During July, the company manufactured 620 units. Materials purchased and used totaled 2.590 sheets at a total cost of $275,240. Payroll totaled $122,700 for 8,850 hours worked. 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 (.e., zero variance).) Quantity Variante