Problem 10-9 (Algo) Comprehensive Varience Analysis

1. Compute the materials price and quantity variences for august.

2. Compute the labor rate and efficiency variences for August.

3. Compute the variable overhead rate and efficiency variences for August.

to tit nearly any small car. I he company has a standard cost system in use tor all of its products. According to the standaras that nave been set for the seat covers, the factory should work 1,075 hours each month fo produce 2,150 sets of covers. The standard costs associated with this level of production are: During August, the factory worked only 800 direct labor-hours and produced 2,500 sets of covers. The following actual costs were recorded during the month: At standard, each set of covers should require 3.0 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 calculations. Indicate the effect of each variance by selecting "F" for favorable, " U for unfovorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values