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Problem 10-9 Comprehensive variance Analysis [LO10-1, Loto 2.Lo10 31 Marvel Parts, Inc., manufactures auto accessories one of the company's products is a set of seat covers that can be adjusted to fit nearly small The company has a standard cost system in use for hours According to the standards that have been set for the seat covers, the factory should work 2,850 each month to produce 1,900 sets of covers standard costs associated with this level of production are: e Per Set Total of covers Direct materials 42,560 $22.40 Direct labor 17,100 9.00 Variable manufacturing overhead (based on direct labor-hours) 6,840 3.60 $35.00 During August, the factory worked only 2.800 direct labor-hours and produced 2.000 sets of covers. The following actual costs were recorded during the month Total of Covers $45,600 $22.80 Direct materials (12,000 yards) 18,200 9.10 S Direct labor 7.000 3.50 Variable manufacturing overhead $35.40 At standard, each set of covers should require 5.6 yards of material. All of the materials purchased during the month were used in production. Required: August. (lnput all amounts as positive valu 1, Compute the materials price and quantity variances for unfavorable, and Indicate the effect of each variance by selecting "F" for favorable, "U" for "None" for no effect (i.e, zero variance).) Materials price variance Materials quantity variance