- X Requirement 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 EM8-19 (similar to) Superior Fender, which uses a standard cost system, manufactured 20.000 boat fenders during 2024 using 141,000 square feet a standard cost of $1 15 per square foot The labor standard was 0.027 direct labor hour per fender, at a standard cost of $12.00 Read the requirement Begin with the cost variances Select the required formulas, compute the cost variances for direct materials and direct labor, and Formula Variance Direct materials cost variance Direct labor cost variance 224, using 141 000 square feet of extruded vinyl purchased at $1.10 per square foot Production required 460 direct labor hours that cost $1 1, at a standard cost of $12.00 per hour materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used AC = actual cost: AL required 460 direct labor hours that cost $13.00 per hour The direct materials standard was seven square feet of vinyl per fender, at 3). (Abbreviations used. AC = actual cost, AD = actual quantity, FOH = fixed overhead, SC - standard cost; SO = standard quantity)