Need help solving these. Please explain how you did it as well. Thanks

erro.rnheducatkrrr.crxn fi '" lin, A I '- irfm w' "tax-nb {RECOUNTING Chapter 8 - Homework (1042. 114,15I 17) ( Qucstlon 6 (of 6) 6 value: ' 2.00 points Exercise 8 company has recently established 21 standard coal reduces toy called the Maze. The standards for the Maze toy: Dawson Toys, Lid., p l cools and has established the following system to help contro Direct materials: 7 microns per lay at $0.34 per micron Direct labor: 1.5 hours per ley at SilJD per hour During July. the company produced 4.500 Maze ioys. Production data for the month on the toy follow: Direct materials: 71.000 mlcrons were purchased at a cost of $0.31 per micron. 31,625 of these microns were still in inventory at the end of the monihl'l ' Direct labor: 7.150 direct labor-hours were worked at expect of 550765. Required: ' l Elo lrlol round intermediate calculations. Hound final 1. Compute the following varianCes for'Julyii'l anmver ie the nmrrzrzle Whole umm. lrldicrzle the eliiocl of each variance by selecting "r" for invornble, "Li" l'er lilli'iifl'lltilri'lljil), ami "illmm'llor no lolfocl lie, zero variancel.) a. The materials price and quantity variances.' " I'M" ix'lalerial price variance Material quantity varianceIn P- In" -' During July, the company produced 4. Required: 1. Compute the following variances war to the nearest whole dollar. lndic Dirac! materieis: 71.000 micmns were purchased at a GOBt of $0.31 per were still in inventory at the and of the month. Direct labor: 7,150 direct laborhours were worked at a cost of $50,765. for July: (Do not round intermediate calculations. am the. ciicct of each variance by selecting favorabla, "U" for un'lavorabio, and "lions" for no effect (i.c., zero variance).) i Material price variance . Material quantity variance a. The materials price and quantity variances. ' y b. The labor rate and efficiency variancesi Labor tale variance Labor efficiency variance micron. 31,625 of these miorms Round final "F" for