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Problem 10-9 (Algo) Comprehensive Variance Analysis [LO10-1, L010-2, LO10-3] Marvel Parts, Incorporated, manufactures auto accessonies including a set of seat covers that can be adjusted to fit most cars According to its standards, the factory should work 1.035 hours each month to produce 2.070 sets of seat covers. The standard costs associated with this level of production are During August, the factory worked 500 direct labor-hours and produced 1,700 sets of covers. The foliowing actual costs were recorded during the month: At standard, each set of covers should require 20 yards of material. All of the materials purchased during the month were used in mendivertion At standard, each set of covers should require 20 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 variances for August Note: Do not round intermediate colculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfovorable, and "None" for no effect (i.e., zero voriance). Input all amounts as positive values