Pro Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2024, using 142,000 square feet of extruded vinyl purchased at 51 50 per square foot Production required 460 direct labor hours that cost $12.00 per hour The direct materials standard was seven square feet of vieryl per fender, at a standard cost of $1.55 per square foot. The labor standard was 0.026 direct labor hour per fender at a standard cost of $11.00 per hour Read the requirement Begin with the cost variances Select the required formulas, compute the cont variances for direct materials and direct labor, and identity whether each varlance is favorable (F) or unfavorable (U) (Abbreviations used. AC actual cost, AQ = actual quantity, FOH = foxed overhead SC - standard cool, SQ = standard quantity) Formula Variance Direct materials cost variance A Direct labor cost variance Select the required formulas, compute the officiency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviation used. AC actual cont. AQ = actual quantkyFOH = fixed overhead SC standard cost, SQ standard quantity) Formula Variance Direct materials efficiency variance Direct labor efficiency variance Does the pattern of variances suggest Pro Fander's managers have been making trade-offs? Explain direct materials cost variance combined with the direct materials efficiency variance suggests that managers may have used direct materials. The net effect on the total direct materials variance is es V direct labor cost variance combined with the direct labor efficiency variance suggests that managers may have used workers who performed more efficientlyThe net effect on the total direct labor variance is The The w TH et materials cost variance et labor cost variance et the required formulas, compute th reviations used AC = actual cost A (AC-SC) AQ direct labor, a = standard V 3-offs? Explain (AC - SC) SQ ct materials efficiency variance ct labor efficiency variance (AQ - SQ) AC = the pattern of variances suggest Pt (AQ - SQ) SC direct materials cost Actual FOH - Allocated FOH erials. The net effect on the total direc Actual FOH - Budgeted FOH direct labor cost varia Eers who performed more efficiently Bugeted FOH - Allocated FOH ct materials effi bor efficiency va is pose from any list or enter any number in the input fields and then continue to the next