www Problems Marvel Parti, Inc. manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to 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 2050 sets of covers. The standard costs sociated with the level of production are Per set OH Total covers Direct baterials $27,675 $13.se Direct labor $ 8,610 4.20 variable manufacturing overhead (based on direct labor-hours) $ 4,920 2.40 $20.10 Dunn August, the factory worked only 750 director hours and produced 1,500 sets of covers. The following actual costs were recorded during the month Direct materials (3,900 yards) Direct labor Variable manufacturing overhead Per Set Total of Covers $19,500 $13.00 5 6,600 54,00 $20.00 Atandard, ach set of covers should telt 18 yards of material All of the metas barchased during the month were used in production Heview Problems du Variable manufacturing overhead $ 4,800 3.2 $20.6 At standard, each set of covers should require 18 yards of material. All of the material purchased during the month were used in production Required 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 officiency variances for August Andicate the effect of each variance by selecting for favorable. "Ufor unfavorable, and "None" for no effect (te, zero vartance). Input all amounts as positive values.) Materials price variance Materials quantity variance 2. Liborrate variance Libor cancy variance 3. Vabarbaad mare variance Viable overhead eliciency variance