Aarvel Parts, Incorporated, manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted o fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have eeen set for the seat covers, the factory should work 990 hours each month to produce 1,980 sets of covers. The standard costs ssociated with this level of production are: During August, the factory worked only 1,000 direct labor-hours and produced 2,500 sets of covers. The following actual costs were ecorded during the month: at standard, each set of covers should require 3.3 yards of material. All of the materials purchased during the month were used in roduction. Required: Compute the materials price and quantity variances for August. Compute the labor rate and efficiency variances for August. Compute the variable overhead rate and efficiency variances for August. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero ariance). Input all amounts as positive values.)