Premium Fender, which uses a standard cost system, manufactured 20.000 boat lenders during 2018 using 142,000 square feet of extruded in purchased $1.05 per square foot Production required 40 drud tabor hours that cost $13.50 per hour. The direct materials standard was even square feet of vinyl per fender, ut a standard cost of $1,10 per square foot. The labor stardard was 0.037 crect labor hour per ferde, ut a standard cost of $12.50 per hour Read the requirement Begin with the cost variances Select the required formulm.compute the con variances for direct materials and direct labor, and identify whether auch verance listenie or unfavoratie (u otravitons et AC actual cost AQ actual Quantity: FOH od overhead: SC standard cont, 80 standard quality) Formula Variance Direct materials cost variance Direct labor cost variance Select the required fondas, compute the eficiency variances for direct materials and direct later, and identify whether onch variance in favorable () or unterle (UArons sed. Acht AG actual quantity, FOHfixed overhead, SC and cost 50 standard quantity) Formula Variance Direct materials officiency variance Direct labor efficiency variance Does the pattern of variances suggest Premium Fender's managers have been making trade-o? Explain The direct mars. The effect on the direct materials costvare combined with the direct materiale officiency variance suggests that managers may we od total direct materiais variance is The direct labor cost variance combined with the direct labor efficiency variance suggests that managers may have used woners who performed more Choose from any list or enter any number in the input fields and then continue to the next