Premium Guard, which used a standard cost accounting system, manufactured 230,000 boat fenders during the year, using 1,480,000 feet of extruded vinyl pure Production required 4,600 direct labor hours that cost $17.00 per hour. The materials standard was 6 feet of vinyl per fender at a standard cost of $135 per foot 0.026 direct labor hour per fender at a standard cost of $16.00 per hour Read the requirements Requirement 1. Compute the price and quantity variances for direct materials Compute the rate and efficiency variances for direct labor. (Assume that the quanti is equal to the quantity of materials used. Enter the variance as a positive number Round your answers to the nearest whole dollar Label the variances as favora The direct materials price variance is 148000 F The direct materials quantity variance is The direct labor rate variance is The direct labor efficiency variance is Requirement 2. Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain The direct materials price variance combined with the direct materials quantity variance suggests that managers may have used The net effect is accounting system, manufactured 230,000 boat fenders during the year, using 1.480.000 feet of extruded vinyl purchased at $1.25 per foot that cost $17.00 per hour. The materials standard was 6 feet of vinyl per fender at a standard cost of 51.35 per foot. The labor standard was ard cost of $16.00 per hour. Intity variances for direct materials. Compute the rate and efficiency variances for direct labor. (Assume that the quantity of materials purchased ter the variance as a positive number. Round your answers to the nearest whole dollar. Label the variances as favorable (F) or unfavorable (U).) 148000 F mces suggest that the company's managers have been making trade-offs? Explain. ariance combined with the direct materials quantity variance suggests that managers may have used materials be direct materials quantity variance is The direct laborate variance is The direct laborefficiency variance is Requirement 2. Does the pattern of variances suggest that the company's managers have been making trade offs? Explain The direct materials price variance combined with the direct materials quantity variance suggests that managers may have used The net effect is material The direct laborate variance combined with the mote eliciently. The net effect is direct labor efficiency variance suggests that managers may have used workers who perfor