Marvel Parts incorporated, manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to Tr nearly any small ca$.$ 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 $1045$ hours each month to produce $2,090$ sets of covers. The standard costs associated with this level of production are:TotalPer Set ofCoversDirect materials$ $49\mathrm{.}533$Direct labor$ $10,450$$ $23\mathrm{.}705\mathrm{.}00$Variable manufacturing overhead $($based ondirect labor$-$hours$)$$$4,5982\mathrm{.}20$$ $38\mathrm{.}90$During August, the factory worked only $800$ direct labor$-$hours and produced $1\mathrm{.}900$ sets of covers. The following actual costs were recorded during the month:TotalPer Set ofCoversDirect naterials $(6,500$ yards$)$$ $44,460$$ $23\mathrm{.}40$Direct Labor$ $9,8805\mathrm{.}20$Variable manufacturing overhead$ $4,5002\mathrm{.}40$$ $31\mathrm{.}00$At standard, each set of covers should require $3\mathrm{.}0$ yards of material. All of the matertals purchased during the month were used in production.Required:$1.$ Compute the materials price and quantity varlances for August$\mathrm{.}2.$ Compute the labor rate and efficlency variances for August$\mathrm{.}3.$ Compute the variable overhead rate and efficiency varances for August.$($Do not round Intermediate calculations. Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable. and "None" for no effect $($Le$.,$ zero varlance$),$ Input all amounts as positive values.$)$