Check Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.32 per micron Direct labor: 1.5 hours per toy at $6.60 per hour During July, the company produced 4,700 Maze toys. The toy's production data for the month are as follows: Direct materials: 75,000 microns were purchased at a cost of $0.30 per micron. 39.750 of these microns were still in inventory at the end of the month. Direct labor. 7,550 direct labor-hours were worked at a cost of $52,850. Required: 1. Compute the following variances for July (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity variances b. The labor rate and efficiency variances 1a Material price variance s Material quantity variance (2.190) 2.160U $ 2 of 3 Next > Chec data for the month During July, the company produced 4700 Maze toys. The toy's production data for the month are as follows: Direct materials: 75,000 microns were purchased at a cost of $0.30 per micron. 39,750 of these microns were still in inventory at the end of the month Direct labor. 7,550 direct labor-hours were worked at a cost of $52,850. Required: the effect of each varian Required: 1. Compute the following variances for July (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable and "None" for no effect (ie, zero variance). Input all amounts as positive values. Do not round Intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity variances. b. The labor rate and efficiency variances. final answer to the influe.. zero variancelled la 2190) 2.160 Material price variance1 5 Material quantity variances Labor rate variance Labor efficiency variances 1.980 1980