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: 8 microns per toy at $0.34 per micron Direct labor: 1.2 hours per toy at $7.50 per hour During July, the company produced 4,500 Maze toys. Production data for the month on th Direct materials: 78,000 microns were purchased at a cost of $0.32 per micron. 33,000 were still in inventory at the end of the month. Direct labor: 5,800 direct labor-hours were worked at a cost of $45,820 icrons Required: 1. Compute the following variances for July: (Do not round intermediate calculations. Round final answer to the nearest whole dollar. Indicate the effect of each variance by selecting "F favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance) for a. The materials price and quantity variances. Material price variance s 1,560 Material quantity variance 3,060 b. The labor rate and efficiency variances Labor rate variance Labor efficiency variance