Marvel Parts, Incorporated, 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 i been set for the seat covers, the factory should work 990 hours each month to produce 1,980 sets of covers. The standard costs associated with this level of production are: Direct materials Direct labor Total $45,738 $ 6,930 Per Set of Covers $ 23.10 3.50 Variable manufacturing overhead (based on direct labor-hours) $ 3,168 1.60 $28.20 During August, the factory worked only 1.000 direct labor-hours and produced 2.500 sets of covers. The following actual costs were recorded during the month: Direct materials (10,000 yards) Direct labor Variable manufacturing overhead $22.40 3.70 Per Set of Total Covers $ 56,000 $ 9,250 $ 4,500 1.80 $ 27.90 At standard, each set of covers should require 3.3 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. 2. Compute the labor rate and efficiency variances for August. 3. Compute the variable overhead rate and efficiency varlances for August. Indicate the affect of nach varianca hu colecting "E" for favorable "II" for unfaunrahla and "Nana" far no affarel