Exercise $10-8($Algo$)$ Direct Materials and Direct Labor Variances $[$L$010-1,$ LO$10-2]$

Dawson Toys, Limited, produces a toy called the Maze with the following standards:

Direct materials: $8$ microns per toy at $$0\mathrm{.}33$ per micron

Direct labor: $1\mathrm{.}3$ hours per toy at $$7\mathrm{.}00$ per hour

During July, the company produced $4,600$ Maze toys. The toy's production data for the month are as follows:

Direct materials $78,000$ microns were purchased at a cost of $$0,32$ per micron. $32,000$ of these microns were still in inventory at the end of the month.

Direct labor. $6,580$ direct labor$-$hours were worked at a cost of $$48,034$

Required:

Compute the following variances for July:

Note: 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.