Marvel Parts, Inc., manufactures auto accessorles. 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 get for the seat covers, the factory should work 1020 hours each month to produce 2040 sets of covers. The standard costs assoclated with this level of production are: Per Set Total of Direct materials Direct labor Variable manufacturing overhead (based on $ 37,748 $18.58 4.58 9,1884 $ 2,448 1.28 $24.28 direct Labor-hours) During August, the factory worked only 1,000 dilrect labor-hours and produced 2.900 sets of covers. The following actual costs were recorded during the month: Per Set Total of Direct naterials (9,18 yards) Direct Labor $52,788 $18.28 $ 13,63 4.7 4,648 1.6 Variable manufacturing overhead $24.58 At standard, each set of covers should requlre 25 yards of materlial. All of the materlals purchased during the month were used In production. Required: 1. Compute the materlals price and quantity varlances for August. 2. Compute the labor rate and efficlency varlances for August. 3. Compute the varlable overhead rate and efficlency varlances for August. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values.) 1. Materials prce varianoe 14,580 Materials quantity variance 2. Labor rate variance Labor efficiency variance 3. Variable overhead rate variance