Premiurn Guard, which used a standard cost accounting system, manufactured 200,000 boat fonders during the year, using 1,250,000 feet of extruded vinyl purchased at $1 10 per foot Production required 4.100 direct labor hours that cost $17.00 per hour. The materials standard was 6 foot of vinyl per fonder at a standard cost of $1.25 per foot The labor standard was 0.026 direct labor hour per fender at a standard cost of S1600 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 quantit materials purchased 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 favorable (F) or unfavorable (U)) The direct materials price variance is 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 naterials quantity variance suggests that managers may have used materials. The net effect is The direct labor rate variance combined with the workers who performed more efficiently. The net effect is direct labor efficiency variance suggests that managers may have used