Bargain Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 142.000 square foot of extruded vinyl purchased at $1.55 per square foot. Production required 420 direct labor hours that cost $12.00 per hour. The direct materials standard was seven square feet of vinyl per fender at a standard cost of $1.60 per square foot. The labor standard was 0.026 direct labor hour per fender, at a standard cost of $11.00 per hour Read the requirement Help quantity) Direct materials cost variance Direct labor cost variance Select the required formulas, compute the unfavorable (U) (Abbreviations used: AC Direct materials efficiency variance Direct labor efficiency variance Formula (AC-SC) AQ (AC-SC) AQ Variance $7,100 F 420 U efficiency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or actual cost AQ actual quantity, FOH fixed overhead. SC standard cost 50 standard quantity) Formula (AQ-SO) SC (AQ-SQ)-SC Variance U