The company reported the following results concerning this product in August: The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance when the materials are purchased. Required: a. Compute the materials quantity variance. b. Compute the materials price variance. c. Compute the labor efficiency variance. d. Compute the labor rate variance. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no e variance). Input all amounts as positive values. The company reported the following results concerning this product in August: The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance when the materials are purchased. Required: a. Compute the materials quantity variance. b. Compute the materials price variance. c. Compute the labor efficiency variance. d. Compute the labor rate variance. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no e variance). Input all amounts as positive values