Given the following data how would one solve items 1.) a & b? Thanks!

Course Documents-MH D Study Guide for Test-2-,/XyD chapter 08 Pre-built Ass ?\. ? \ tpx Cal Poly-Managerial Accounting 208: Spring 208 CPP Managerial Section 01 Leroy Brown TING Chapter 08 Pre-bulit Assignment instructlons I help Question 4 (of 10) Save & Exit Submit 10.00 polnts Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control casts and has established the tollowing standards for the Maze toy Direct materials: 8 microns per toy at $0.34 per micron Direct labor: 1.4 hours per toy at $7.50 per hour During July, the company produced 5,300 Maze toys. Production data for the month on the toy follow Direc! materials. 78,000 microns were purchased at a cost of S0.31 per micron. 25,000 of these microns were still in inventory at the end of the month. Direcr labor: 7,820 direc labor hours were worked at a cost of 562 550 Required: 1 Compute the tallowing variances for July(Do not round intermediate calculations. Round tinal answer to the nearest whole dollar. Indicate the effect of each variance by selecting "F" for favorable, "U for unfavorable, and "None" for no effect (i.e., zero variance).) a. The materials price and quantity variances Material price variance Material quantity variance