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Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materlals; 8 microns per toy at $0.33 per micron Direct labor: 1.4 hours per toy at $7.30 per hour During July, the company produced 4,800 Maze toys. The toy's production data for the month are as follows: Direct materials. 79,000 microns were purchased at a cost of $0.32 per micron, 31,000 of these microns were still in inventory at the end of the month. Direct labor: 7,220 direct labor-hours were worked at a cost of \$55,594. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for fovorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity variances. b. The labor rate and efficiency variances. 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 been set for the seat covers, the factory should work 1,020 hours each month to produce 2.040 sets of covers. The standard costs associated with this level of production are: During August, the factory worked only 1,000 direct labor-hours and produced 2,900 sets of covers. The following actual costs were recorded during the month: 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 varlances for August. 2. Compute the labor rate and efficlency variances for August. 3. Compute the variable overhead rate and efficiency varlances for August. 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. 2. Compute the labor rate and efficiency variances for August. 3. Compute the variable overhead rate and efficiency vadances for August. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for fovorable, "U" for unfovorable, ond "None" for no effect (i.e., zero variance), Input all amounts as positive values.)