HW Score : 43.65 %, 2.18 of 5 pts E23-19 (book/static) Question Help Matthews Fender, which uses a standard cost system, nanufactured 20 000 boat fenders per square foot. Production required 400 direct labor hours that cost $16 00 per hour. The drect matenals standard was seven square feet of vinyl per standard cost of $1.35 per square foot The labor standard was o 028 direct labor hour per tender, at a standard cost of $15,00 per during 2018, using 143,000 square feet of extruded vinyl purchased at $1 30 Read the requirement Begin with the cost variances. Select the required formulas, compute the cost vanances for dire ct materials and direct labor, and identify wheother each variance is quantity) Formula (AC-SC)x AQ AC SC)x AQ Variance Direct materials cost variance 150F Direct labor cost variance S 400 Select the required formulas, compute the efficiency variances for direct materials and direct labor. and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used: AC-actual cost, AQ-actual quantity, FOH-fixed overhead; SC = standard cost SQ-standard quantity ) Formula Variance Direct materials efficiency varianceu Direct labor efficiency variance (AC SC)x AQ (AQ -SQ)x AC (AQ SQ)x SC Actual FOH Allocated FOH Answer Choose from any list or enter any numbe Actual FOH - Budgeted FOH Bugeted FOH - Allocated FOH Check Answer parts Clear All ,50 F $400 U r direct materials and direct labor, and identify whether each variance is ual quantity, FOH fixed overhead, SC standard cost, SQ standard ula Variance nd then click Check