Deluxe Guard, which used a standard cost accounting system, manufactured 220,000 boat fenders during the year, using 1,420,000 feet of extruded vinyl purchased at $1:40 per foot Production required 4,300 direct labor hours that cost $16.50 per hour. The materials standard was 6 feet of vinyl per fender at a standard cost of $1.45 per foot. The labor standard was 0.028 direct labor hour per fender at a standard cost of $15.50 per hour Read the requirements Requirement 1. Compute the price and quantity variances for direct materials Compute the rate and efficiency variances for direct labor (Assume that the quantity of materials purchased is equal to the quantity of materials used. Enter the variance is a positive number Round your answers to the nearest whole dollar Label the variances as favorable (F) or unfavorable (U)) The direct materials price variance is The direct materials quantity variance is The direct labor rate variance is The direct labor efficiency variance is Requirement 2. Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain. The direct materials price variance combined with the materials The net effect is direct materials quantity variance suggests that managers may have used The direct materials quantity variance is The direct labor rate variance is The direct labor efficiency variance is Requirement 2. Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain The mate direct materials price variance combined with the direct materials quantity variance suggests that managers may have used The favorable perfc br rate variance combined with the he nel effect is direct labor ficiency varlance suggests that managers may have used workers who unfavorable Time Remaining: 01:30 Next Requirements 1. 2. e net effect is Compute the price and quantity variances for direct materials. Compute the rate and efficiency variances for direct labor. Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain. Print Done plain ggests direct labor rate variance combined with the direct labor efficiency variance suggests that man