Superior Fender, which uses a standard cost system, manufactured 20.000 boat fenders during 2018, using 146.000 square Seet of extruded vinyi purchased st 51.10 per square foot, Producfon required 410 direct labor hours fhat cost 312.00 per hour. The direct materials standard was seven square feet of fender, at a standard cost of $1.15 per square foot. The labor standard was 0.023 direct labor hour r fender, at a standard oost of $11.00 per hour vinyl p Read the reauirement d direct labor and identfy whether earh varianre is favorable (E orunfavnrable (U) (Abbrevistions used AC-arhual cost AQ-actual quantity: FOH-fred avechead SC-standard cnst SQ- Beain with the cost variancess, Select the required formulas, compute the cost variances direct materials standard quantity.) Formula Direct materials cont variance Direct labor ooct varianoe Select the required formulas., compute the eiciency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U), (Abbreviafions used AC-adtual cost AQ-actual quantity: FOH-foxed overhead: SC-standard cost: SQ-standard quantity.) Formula Varianoe Direct materials efficiency variances Direct labor efficiengy variance Does the patam of variancas suggest Suparior Fender's managas have bean making trade-offs? Explain dirnct materisis The net effect on. Idiract materas variance is The diract materials cost vanance combined with the direct materials afficiancy varianoe suggests that managers may have used im vworikors who nerformad more oficientv The net offent a direct labor aefficianay varance sugpests that managers may have used The the total direct jabor vanance is direct labor cost vanance combined with the - X Requirement ti cost Compute the cost and efficiency variances for direct materials and direct labor Does the pattern of variances suggest Superior Fender's managers have been making trade-offs? Explain Print Done ect or