Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company uses a standard cost system for all of its products. According to the standards that have been set for the seat covers the factory should work 2,850 hours each month to produce 1900 sets of covers. The standard costs associated with this level of production are: Per Set Total G Covoro Direct materials $ 42,560 $22.40 Direct labor S5300 27.00 Variable manufacturing overhead (based on direct labor-hours) $6,840 3.60 $53.00 During August, the factory worked only 2,800 direct labor-hours and produced 2,000 sets of covers. The following actual costs were recorded during the months Direct materials (12,000 yarda) Direct labor Variable manufacturing overhead Total $ 45,600 $ 49,000 S 2000 Pen Set o Covers $22.80 24.50 3.50 $50.80 At standard, each set of covers should require 5.6 yards of material. All of the materials purchased during the month were used in production, Required: 1. Compute the materials price and quantity variances for August 2. Compute the labor rate and efficiency variances for August 3. Compute the variable overhead rate and efficiency variances for August, (Indicate the effect of each variance by selecting "Fil for favorable. "U for unfavorable, and "None" for no effect