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Required 1. Compute the materials price and quantity variances for the year. 2. Compute the labor rate and efficiency variances for the year 3. For manufacturing overhead compute a. The variable overhead rate and efficiency variances for the year. b. The fixed overhead budget and volume variances for the year (For all requirements, 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.) 1. Materials price variance Materials quantity variance 2. Labor rate variance Labor efficiency variance 3a. Variable overhead rate variance Variable overhead efficiency variance 3b. Fixed overhead budget variance Fixed overhead volume variance