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# Marvel Parts, Inc, manufactures auto accessories One of the company's products is aa set of seat...

## Question

###### Marvel Parts, Inc, manufactures auto accessories One of the company's products is aa set of seat...

Marvel Parts, Inc, manufactures auto accessories One of the company's products is aa set of seat covers that can be adjusted to t 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 Drect matenials Direct labor Vanable manufacturing overhead (based on drect labor hours) Total $28.642 S 8040 Per Set of Covers$14 20 4.00 180 $20.00 S 3618 During August, the factory worked only 1.200 direct labor-hours and produced 2.600 sets of covers The folowing actual costs were recorded duing the month Total$35.100 $10,920$ 5,460 Per Set of Covers $13 50 420 2.10$19.80 Direct materals (6.000 yards) Direct labor Variable manuacturing overhead were used n production At standard, each set of covers should require 2 00 yards of material All of the matenals purchased dunng the mon
Required 1. Compute the materials price and quantity variances for August. (Input all amounts as positive values. Indicate the effect of each variance by and "None" for no effect (I.e, zero variance).) Materials price variance Materials quantity variance 2. Compute the labor rate and efficiency variances for August. (Input all amounts as positive values. Indicate the effect of each variance by sele and "None" for no effect (i.e, zero variance).) Labor rate variance Labor efficiency variance
3. Compute the variable overhead rate and efficiency variances for August. (Input all amounts as positiv unfavorable, and "None" for no effect (i.e, zero variance).) Variable overhead rate variance Variable overhead efficiency variance

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