Grand Fender, which uses a standard cost system, manufactured $20,000$ boat fenders during $2025,$ using $142,000$ square feet of extruded vinyl purchased at $$1\mathrm{.}40$ per square foot. Production required $400$ direct labor hours that cost $$21\mathrm{.}00$ per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $$1\mathrm{.}45$ per square foot. The labor standard was $0\mathrm{.}028$ direct labor hour per fender, at a standard cost of $$20\mathrm{.}00$ per hour.

Read the requirement.

Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor. $($Abbreviations used: $AC=$actual cost; $AQ=$ actual quantity; FOH$=$ fixed overhead; SC $=$ standard cost; SQA $=$ standard quantity allowed. Label the variance as favorable $($F$)$ or unfavorable $($U$),$ in the input field after the amount you enter.$)$

$\backslash$table$[[,,$Formula,,Variance$],[$Direct materials cost variance,$=,(AC-SC)AQ,=$$$,7,{100}^{TT}F$