Exercise 10-8 (Algo) Direct Materials and Direct Labor Variances [LO10-1, LO10-2] 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: 8 microns per toy at $0.35 per micron Direct labor: 1.1 hours per toy at $7.40 per nout During July, the company produced 4,800 Maze toys. The toy's production data for the month are as follows: Direct materials. 77.000 microns were purchased at a cost or $0.33 per micron 29.000 of these microns were stili in inventory at the end of the month. Direct labor, 5,780 direct labor-hours were worked at a cost of $45,084 Required: 1. Compute the following variances for July: Note: Indlcate the effect of each vorlance by selecting " F " for fovorable, " U " for unfovoroble, ond "None" for no effect (l,e., zero varience). Input all amounts as positive values. Do not round Intermediate calculations. Round final answer to the nearest whole doller amount. a. The materials price and quantity variances b. The lobor rote and efficlency variances