Problem 10-9 (Algo) Comprehensive Variance Analysis [LO10-1, LO10-2, LO10-3] Marvel Parts, Incorporated, manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit 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 1,060 hours each month to produce 2120 sets of covers. The standard costs associated with this level of production are: During August, the factory worked only 500 direct labor-hours and produced 2,200 sets of covers. The following actual costs were recorded during the month At standard, each set of covers should require 25 yards of material. All of the materials purchased during the month were used in production Required: 1. Compute the materials price and quantity variances for August 2. Compute the labor rate and efficlency variances for August 3. Compute the variable overhead rate and efficiency variances for August. (Do not round intermediate calculotions, Indicate the effect of each varionce by selecting "F" for favorable, "U" for unfovorable, and "None" for no effect (i.e., zero variance). Input all omounts as positive values.)