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c n ewconnectmeducation.com Problem 10-9 Comprehensive Variance Analysis (LO10-1 LO 10-2. LO10-31 10 Marvel Pans, Inc, manufactures and accessones One of the company's products is a set of seat covers that can be adjusted to it nearly any small Car The company has a standard cost system in use for all of products According to the standards that have been set for the seat covers the factory should work 1040 hours each month to produce 2.000 sets of covers. The standand costs associated with this level of production are points 02:36 38 por Sot Total Covers Direct materials $48,550 $19.50 Direct labor $ 7,289 3.50 Variable manufacturing werhead (based on direct labor-hours) $4,10 2.80 During August, the factory worked only 600 direct labor hours and produced 1500 sets of covers. The forowing achat costs were recorded in the more Per Set Total Covers Direct waterials $34,200 $19.00 (5,800 yards) $ 6,668 3.70 Variable sufacturing 4,10 2.30 currhead At standard, each set of covers should requee 25 yards of material All of the materias purchased dunng the man were used in production Required: 1 Compute the material price and quality variances to August Compute the verge overhead rate and emciency anoncestos August indicate the effect of each variance by selecting "F" fortevorbe, "Ufor unfavorable, and "None for no effect etero variancel Input all amounts as poslove wives) 2 taborete varance

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