Dock Guard. Which uses a standard cost accounting syptem, manufacturod 220,000 boat landoes durng the year using 1,420,000m of extrubed vipyl purchased at $1. 40 pet mete. Producson required 4.400 direct labour hours that cost $12.00 per hour. The materiats standard was 6m of vinyl per fendor at a standerd cost of $1.55 per motre. The labour standard was o.027 drect labout hour per fender at a standard cost of $11.50 par hatar. Compute the price and efficiency variances for direct matenals avd drect laboue. Does he pensm of variancen sugges Dock Guards mansagers have been making trade-offs? Explan. Begin by defermining the fornula for the price variance, then compute the prica variances for direct matenals (DM) and direct labour (DL) (Entar the rasults as positive numbers. Label each variance as favourable (F) or unfavourable (U).) variance as favourable (f) or unfavourable (U).) more eficiently The net eflect is