C i https:ew connect.mneducation.com.flowiconnect.html Chapter 9 HW Exercises Help Save & Exit Submit Dawson Toys, Ltd., produces a toy called the Maze. The company has recenty created a standard cost system to help control costs and has established the following standards for the Maze toy Direct materials: 5 microns per toy at $0.31 per micron Direct labor: 1.4 hours per toy at $6.50 per hour During July, the company produced 4,600 Maze toys. The toy's producton data for the month are as follows: Direct materiis: 74,000 microns were purchased at a cost of $0.30 per micron. 39,500 of these microns were still in inventory at the end of the month Direct aor 6,940 direct labor hours were worked at a cost of $47,886. Required: 1. Co pute the following variances for July: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answers to the nearest whole dollar mount.) a. The materials pricc and quatity varianccs b. The labor rate and etticiency variances 7,40 Malerial quanliy varance 1. Labor rate veriance Labor etfic ency veriance Prev 1 of 10 Next