Requirement Compute the cost and efficiency variances for direct materials and direct labor. Does the pattern of variances suggest Deluxe Fender's managers have been making trade-offs? Explain. Deluxe Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 142,000 square feet of extruded vinyl purchased at $1.20 per square foot. Production required 410 direct labor hours that cost $14.00 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.25 per square foot. The labor standard was 0.023 direct labor hour per fender, at a standard cost of $13.00 per hour! Read the requirement. Begin with the cost variances Select the required formulas, compute the cost venances for direct materials and direct labor, and identity whether onch vanane is favorable (F) or unfavorable (U) (Abbreviations to ACal cost adualqurly, FOH = fund overhead, SC standard cost Standardowy) - Formula Variance Direct materials cost variance Direct labor cost varlance Select the formas, compute the efficiency variance for direct materials and direct labor, and identity whether each variance favorable or unfavorable (U). Abbreviations used Adult cualquantity, FOH dovod: Standard cost standard quantity) Formula Variance Direct materiale clancy variance - Dvec tabor officiency variance AL Does the pattomaricos De Fender's managers have been making of? En The materials cost Vrance combined with the directe oficiency in managers may have used Yamahfect on the al direct material variance is The direct labor cost variance combined with the Vi director officiency variance that managers may have workers who performed more