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. (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.) 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 cac. 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 1,005 hours each month to produce 2,010 sets of covers. The standard costs associated with this level of production are: During August, the factory worked only 1,200 direct laborhours and produced 2,600 sets of covers. The following actual costs were recorded during the month. At standard, each set of covers should require 20 yards of materiat. 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 fabor rate and efficiency variances for August 3. Compute the voriable overhead rate and efficiency variances for August. (Do not round intermediate calculations. Indicate the effect of each varionce by selecting "F" for fovorable, "U" for unfavorable. and "None" for no effect (i.e., zero variance), Input all amounts os positive values.)