Problem $10-9($Algo$)$ Comprehensive Variance Analysis $[$LO$10-1,$ LO$10-2,$ LO$10-3]$

Marvel Parts, Incorporated, manufactures auto accessorles. 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 $1,230$ hours each month to produce $2,050$ sets of

covers. The standard costs assoclated with this level of production are:

During August, the factory worked only $750$ direct labor$-$hours and produced $1,500$ sets of covers. The following actual costs

were recorded during the month:

At standard, each set of covers should require $1\mathrm{.}8$ yards of materlal. All of the materlals purchased durlng the month were used in

production.

Required:

Compute the materlals price and quantity varlances for August.

Compute the labor rate and efficlency varlances for August.

Compute the varlable overhead rate and efficlency varlances for August.

Note: Do not round Intermedlate calculatlons. Indlcate the effect of each varlance by selecting $"$F$"$ for favorable, $"$U$"$ for

unfavorable, and "None" for no effect $($l$.$e$.,$ zero varlance$).$ Input all amounts as positlve values.