Marvel Parts, Inc, manufactures auto accessones. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers the factory should work 1070 hours each month to produce 2140 sets of covers. The standard costs associated with this level of production are Direct teists Direct labor Variable manufacturing overhead (based on direct labor-hours) Per set Total of Cover $ 25,964 $12.60 $11.770 5.50 1.70 $19.00 During August, the factory worked only 1000 direct labor hours and produced 2 400 sets of covers. The following actual costs were recorded during the month tract wateral (100 yards) Direct labor Variable manufacturing overhead Per set Total of Cover 129,200 $12.20 $ 13.6 5.70 2.40 At standard, each set of covers should require 15 yards of material. All of the materials purchased during the month were used in production Required: Compute the materials price and quantity variances for August 2. Compute the laborate and efficiency variances for August 3. Compute the variable overhead rate and efficiency variances for August