Marvel Parts, Incorporated, manufactures auto accessories. One of the company's products is a set of scat 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. Accorcting to the standards that have been set for the seat covers, the factory should work 1,010 hours each month to produce 2,020 sets of covers. The standard costs associated with this level of production are: During August, the factory worked only 1,080 direct lobor-hours and produced 2,700 sets of covers. The following actuai costs were recorded during the month: At standard, each set of covers should require 20 yards of materlal. All of the materials purchased duting 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 variances for August (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, 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. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favora and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)