New tab e https/ewconnect.mheducat Help Seve Dawson Toys, Ltd, produces a toy called the Maze. The company has recently established a standard cost systern to help control costs and has established the following standards for the Maze toy Direct materials: 7 microns per toy at $O.34 per micron Direct labor 1.2 hours per toy at $7.50 per hour During July, the company produced 4,700 Maze toys. The toy's production data for the month are as follows Direct materials 77,000 microns were purchased at a cost of $0.32 per micron 35,875 of these microns were still in inventory at the end of the month Direct labor 6,040 direct labor-hours were worked at a cost of $47 716 Required 1 Compute the following variances for July (Indicate the effect of each variance by selecting " for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive velues. Do not round intermediate celculations. Round final answer to the nearest whole doller amount) a. The materials price and quantity variances b. The labor rate and efficiency variances Maberial price variance Material quantity vairiance Labor rahe variance Labor efficiency variance b. C Prev 2 of3 Next> F101112 6 7 8 9 0