Marvel Parts, Incorporated, manufactures auto accessories. One of the companys 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 1,060 hours each month to produce 2,120 sets of covers. The standard costs associated with this level of production are:

	Total	Per Set of Covers
Direct materials	$ 43,460	$ 20.50
Direct labor	$ 9,540	4.50
Variable manufacturing overhead (based on direct labor-hours)	$ 4,664	2.20
		$ 27.20

During August, the factory worked only 500 direct labor-hours and produced 2,200 sets of covers. The following actual costs were recorded during the month:

	Total	Per Set of Covers
Direct materials (8,000 yards)	$ 44,000	$ 20.00
Direct labor	$ 10,340	4.70
Variable manufacturing overhead	$ 5,500	2.50
		$ 27.20

At standard, each set of covers should require 2.5 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. - I believe i found this.

2. Compute the labor rate and efficiency variances for August.

3. Compute the variable overhead rate and efficiency variances for August.

(Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

PLEASE SHOW ALL WORK

Material Price Variance	21,600	F
Materials quantity variance	20,500	F
Labor rate variance		U
labor efficiency variance
Variable OH rate variance
Variable OH efficiency variance