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Promiur Fender, which uses a standard cost nystem, manufactured 20,000 boat fenders turing 2018 ,...

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Accounting

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Promiur Fender, which uses a standard cost nystem, manufactured 20,000 boat fenders turing 2018 , using 142,000 square feet of extruded vinyt purchased at $1.55 per square foot. Productio required 420 direct labor hours that cost 513.00 per hour. The direct malerals standard was seven mauare feet of viryy per fonder, at a standord cont of 51,60 per square foot. The labor atandard was 0.024 drect labor hour per fender, at a standard cost of $12.00 per hour. Read the ceavirement. 5elect the required tormulas, compute the etficiency variances for diect materials and direct laboc, and identify whether eoch variance is favorable (F) or untavorable (U). (Abbeviations ised. Does the pabem of variences suggeat Promum Fenders managers have been making tade-omst bypan. The direct materials cost varianoe combined wet the direct maverials efficency variance supgests that managers may have uxed direct matenals: Does the patem of variances suggest Premium Fender's managers have beon making trade-otfs? Explain

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