Marvel Parts, Incorporated, manufactures auto accessories. One of the company's products is a set of seat covers that can be ac to tit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that been set for the seat covers, the factory should work 980 hours each month to produce 1,960 sets of covers. The standard cost: associated with this level of production are: During August, the factory worked only 1,000 direct labor-hours and produced 2,100 sets of covers, The following actual costs v recorded during the month: At standard, each set of covers should require 2.5 yards of matenal. All of the materials purchased during the month were used 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 "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts os positive values.)