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 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 2,850 hours each month to produce 1,900 sets of covers. MARVEL PARTS, INC Direct labor-hours per month 2,850 Seat covers produced 1,900 Standard costs: Per Unit Total of Product Direct materials $42,560 $22.40 Direct labor $17,100 9.00 Variable manufacturing overhead $6,840 3.60 $35.00 Actual August production: 2,800 Direct labor-hours for month 2,000 Seat covers produced Actual costs during August: Per Unit Total of Product Direct materials $45,600 $22.80 Direct labor $18,200 9.10 $7,000 Variable manufacturing overhead 3.50 $35.40 All of the materials purchased during the month were used in production Actual Yards of material used in Aug 12,000 Standard material requ 5.6 Yards rement er CO Required Compute the following variances for August: 1. The materials price and quantity variances. 2. The labor rate and efficiency variances. 3. The variable overhead spending and efficiency variances