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1. Compute the materials price and quantity variances for August.

2. Compute the labor rate and efficiency variances for August.

3. Compute the variable overhead rate and efficiency variances for August.

Chapter 10 G Saving Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 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 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 1,005 hours each month to produce 2,010 sets of covers. The standard costs associated with this level of production are 10 points Per Set Direct materials Direct labor Variable manufacturing overhead (based Total of Covers $ 8,040 $ 3,618 $28,542 $14.20 4.00 1.80 $20.00 on direct labor-hours) During August, the factory worked only 1,200 direct labor-hours and produced 2,600 sets of covers. The following actual costs were recorded during the month Per Set Total of Covers Direct materials (6,000 yards) Direct labor Variable manufacturing overhead $35,100 $13.50 4.20 2.10 $19.80 $10,920 $ 5,460 At standard, each set of covers should require 2.O yards of material. All of the materials purchased during the month were used in production

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