Voz complete) em, manufactured 210,000 boat fenders during the year, using 1,780,000 feet of extruded vinyl purchased at was 8 feet of vinyl per fender at a standard cost of $1.40 per foot. The labor standard was 0.024 direct labor h ses for direct materials. Compute the rate and efficiency variances for direct labor. (Enter the variances as positi llar. Label the variances as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials, DL = Din ermine the formula for the direct materials price variance, then compute the price variance for direct materials. (As. = DM price variance 0 Requirements variance 1. Compute the price and quantity variances for direct materials. Compute the rate and efficiency variances for direct labor. Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain. etermine the 2. Print Done variance, DL efficiency variance gest that the company's managers have been making trade-offs? Explain. he input fields and then continue to the next question Prtsen End Home 002 compte This Test: 110 pls possible Boat Guard, which used a standard cost accounting system, manufactured 210.000 boat fenders during the year using 1.780.000 foot of traded vinyl purchased $130 per foot Production required 4.900 director hours that cost $13.00 per hour. The materials standard was foot of vinyl per fender at a standard cost of $1.40 per foot. The labor standard was 0.024 rect labor hour per fender at a standard cost of $12.00 per hout Head the revirements Requirement 1. Compute the price and quant variances for direct materials. Compute the rate and efficiency variances for direct labor. Enter the variances as positive numbers. Enter currency amounts to the rearest cont and your answers to the nearest whole dollar Label the variances as favorable for unfavorable (U) Abbreviations : OMDirect manas DL Doctor) Begin with the variances for direct materials. First, termine the formula for the direct materials price variance, the compute the price variance for direct materials. Assume that the quantity or mall purchased is equal to the quantity of materials used.) OM price v e Determine the form for the direct materials quantity variance, then compute the quantity wance for direct materials Neod. compute the variances for rect labor. First determine the formula for the one variance, the compute the mate variance for direct labor ency variance, then compute the chiency variance for director Determine the formula for direct labore a de Requirement 2. Does the pattern of variances suggest that the company's managers have been m 7:02 PM 121/2020 Choose from a list of enter any number in the input felds and then continue to the real question DM quantity variance Next, compute the variances for direct labor. First, determine the formula for the tale variance, then compute the rate variance for direct labor 1 DL rate variance Determine the formula for direct labor the efficiency variance, then compute the efficiency variance for direct labor >DLicency vanane Requirement 2. Does the pattern of variances suggest that the company's managers have been making trade-o? Explain e s Grect materials quantity and suggest that managers may have used The direct materials price variance combined with the to performed o n lyThe direct labor etency variance suggests that managers may have used direct Inborrate variance combined with the The lectis PM /2020 Choose from any list or errier any number in the input ids and men continue to the next Question W E X CVBN This Question: 14 pts 8 of 21 (16 complete) 'his Test: 110 pts pos! Boat Guard, which used a standard cost accounting system, manufactured 210,000 boat fenders during the year, using 1,780,000 feet of extruded vinyl purchased at $1.30 per foot. Production required 4,900 direct labor hours that cost $13.00 per hour. The materials standard was 8 feet of vinyl per fender at a standard cost of $1.40 per foot. The labor standard was 0.024 direct labor hour per fender at a standard cost of $12.00 per hour. Read the requirements. B ) = DL rate variance Determine the formula for direct labor the efficiency variance, then compute the efficiency variance for direct labor L D L efficiency L ATEST ) = variance WINTER 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 materials. The net effect is > The direct labor rate variance combined with the direct labor efficiency variance suggests that managers may have used workers who performed more efficiently The net effect is 7:46 PM 3/21/2020 Choose from any list or enter any number in the input fields and then continue to the next