Marvel Parts, Inc. manufactures to accessories. One of the company's produc t of Best covers that can be s eed to nearly any small cor. 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 1040 hours each month to produce 2.000 sets of covers. The standard costs associated with this level of production are Best materiala During August, the factory worked only 600 direct labor-hours and produced 1200 sets of covers. The following actual costs were recorded during the month D est materiala , DDD yerda) Direst SEE V =Warh At standard, each set of covers should require 25 yards of material. All of the materials purchased during the month were used in production Required: 1. Compute the materiais 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 "F" for favorable, Ufor unfavorable, and "None" for no effect ile, zero variance). Input all amounts as positive values.) 1. Nors price verance Mes variance Laborreleverance LOR clency wance 3. Variable overhead rere variance Variable overhead efficiency