All $-$ Star $-$ender, which uses a standard cost system, manufactured $20,000$ boat fenders during $2024,$ using $142,000$ square feet of extruded vinyl purchased at $$1\mathrm{.}25$ per square foot. Production required $440$ direct labor hours that cost $$16\mathrm{.}50$ per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $$1\mathrm{.}30$ per square foot. The labor standard was $0\mathrm{.}024$ direct labor hour per fender, at a standard cost of $$15\mathrm{.}50$ per hour.

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Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable $(F)$ or unfavorable $($ U $).($Abbreviations used $AC=$ actual cost, $AQ=$ actual quantity, FOH$=$ fixed overhead, $SC=$ standard cost, $SQ=$ standard quantity.$)$

$\backslash$table$[[,$Formula,Variance$],[$Direct materials cost variance,$=,],[$Direct labor cost variance,$=,$