oped Dawson Toys, Ltd, 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 materials: 7 microns per toy at $0.31 per micron Direct labor 12 hours per toy at $670 per hour During July, the company produced 5,500 Maze toys. The toy's production data for the month are as follows Direct materials. 73,000 microns were purchased at a cost of $0.30 per micron. 24,875 of these microns were still in Tnventory at the end of the month. Direct labor 7.000 direct labor-hours were worked at a cost of $49,700 Required: 1 Compute the following vartances for July (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (.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 vartances. 6. The labor rate and efficiency vartances. Book rences 1a Matenal price variance Material quantity variance Laborrate variance Labor efficiency vanance 16