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Marvel Parts, Inc., manufactures auto accessories. One of the company's products is e set of seet covers that cen be adjusted to fit nearly any small car The compony hes e standard cost system in use for all of its product. According to the stenderds thet have been set for the seet covers, the factory should work 1,230 hours each month to produce 2,050 sets of covers. The standard costs associated with this level of production ere: Direct materials Direct labor Variable manufacturing overhead (based on direct labor-hours) Total s 27,675 8,610 4, 920 per Set of Covers S2a.1 During August, the factory worked only 750 direct labor-hours and produced 1,300 sets of covers. The following actual costs were recorded during the month: Direct materials (3, yards) Direct labor Variable manufacturing overhead Total S E, see 6,6ae 4,8ae Set of Covers SIB. ae S2a.6e At standard, each set of covers should require 1.8 yards of materiel. All ofthe materials purchased during the month were used in production. Required: 1. Compute the meteriels price and quantity variances for August. 2. Compute the labor rate end efficiency variances for August 3. Compute the variable overhead rote end efficiency variances for August (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, end "None" for no effect (i.e., zero variance). Input ell amounts es positive values.) Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance Variable overhead rate variance overnea