Oually cuard which sed a standard cost0hat manufactured 170,000 boat fenders during the year, using 1,410,000 feet of extruded vinyl purchased at $1.50 per foot Production required 4,000 direct .025 direct labor hour per fender at a standard cost of $12.50 using 1 labor hours that cost $14.00 per hour. The materials standard was 8 feet of vinyl per fender at a standard cost of $1.65 per foot. The labor standard was hour Requirements rate and efficiency variances for direct labor. (Enter the variances as positive numbers. Enter currency amounts to the (F) or unfavorable (U) Abbreviations used DM Direct materials, D-Direct labor ) 1. Compute the price and quantity variances for direct materials. Compute the eals price variance, then compute the price variance for direct materials. (Assume that the quantity of materials purchased rate and efficiency variances for direct labor Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain 2. )DM price variance Print Done ariance for direct materials )DM quantity variance ute the variances for direct labor. First, determine the formula for the rate variance, then compute the rate variance for direct labor )DL rate variance Choose from any list or enter any number in the input fields and then continue to the next question 5 6 7 8 9