Please answer the following requirements.

Homework: Chapter 23 HWB Save Score: 0 of 1 pt 4 of 5 (1 complete) HW Score: 20%, 1 of 5 pts E23-19 (similar to) Question Help Premium Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000 square feet of extruded vinyl purchased at $1.05 per square foot. Production required 410 direct labor hours that cost $15.00 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.10 per square foot. The labor standard was 0.022 direct labor hour per fender, at a standard cost of $14.00 per hour. Read the requirement 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.) Formula Varianco Direct materials cost variance Direct labor cost variance Choose from any list or enter any number in the input fields and then click Check Answer 3 parts Clear All Check Answer remaining x - Requirement Compute the cost and efficiency variances for direct materials and direct labor. Does the pattern of variances suggest Premium Fender's managers have been making trade-offs? Explain. Print Done