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Homework: Chapter Flexible budgets and Standard Cost Systems Save Score: 0 of 1 pt 5 of 10 (1 complete) HW Score: 5.29%, 0.53 of 10 pts EM6-19 (similar to) Question Help All - Star Fender, which uses a standard cost system, manufactured 20,000 boal fenders during 2024, using 141,000 square feel of extruded vinyl purchased at $1.40 per square foot. Production required 420 direct labor hours that cost $13.00 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.45 per square foot. The labor standard was 0 025 direct labor hour per fender, al a standard cost of $12.00 per hour Read the requirement Begin with the cost vanances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each vanance is favorable (F) or unfavorable (U) (Abbreviations used AC = actual cost, AQ = actual quantity, FOH = fixed overhead, SC = standard cost. SQ = standard quantity ) Formula Variance 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 Check Answer remaining Clear All 11:27 PM Type here to search O W 2/23/2021