Problem 10-9 (Algo) Comprehensive Variance Analysis [LO10-1, LO10-2, LO10-3] Marvel Parts, Incorporated, manufactures auto accessories. 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 1,020 hours each month to produce 2,040 sets of covers. The standard costs associated with this level of production are: recorded during the month: uring August, the factory worked only 1,000 direct labor-hours and produced 2,900 sets of covers. The following actual costs were ecorded during the month: At standard, each set of covers should require 25 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. Cumpute the labur rate and efficiency variances for August 3. Compute the variable overhead rate and efficiency variances for August (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavarable, and "None" for no effect (i..., zero variance). Input all amounts as positive values.)