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Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established

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Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy. Direct materials: 7 microns per toy at $0.33 per micron Direct labor 14 hours per toy at $7,30 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows: Direct materials. 72.000 microns were purchased at a cost or $0.30 per micron. 29.125 of these microns were still in inventory at the end of the month Direct labor 7,460 direct labor-hours were worked at a cost of $58,934 Required: 1. Compute the following variances for July: (indicete the effect of eoch vorionce by selecting "F" for fovorable, "U" for unfovorable. and "None" for no effect (l.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the neorest whole dollar amount.) a. The materials price and quantity variances. b. The labor rate and efficiency variances

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