1 of 1 (1 complete) ard cost system. The company allocates ollowing are the company's cost and standards Actual cost and operating data fromt (Click the icon to view the actual All manufacturing overhead is allocate i Requirements (En 1 = Di compu 1. Calculate the standard cost of one awning. 2. Calculate the following variances: a. The direct material variances. b. The direct labor variances. c. The variable manufacturing overhead variances. d. The fixed manufacturing overhead variances. 3. Explain what each of the variances you calculated means and give at least one possible explanation for each of those variances. Are any of the variances likely to be interrelated? compute ces. (Enter ed: DL= Din Print Done then comput DL rate variance the input fields and then continue to the next question. 80 DOO F4 F7 FB em. The company allocates the company's cost and standards Actual cost and operating data fru (Click the icon to view the ach All manufacturing overhead is allo Standard Price and Volume Standards: th Direct materials 18.0 yards per awning at $15.00 per yard Direct labor 3.0 hours per awning at $10.00 per hour Variable MOH standard rate $2.00 per direct labor hour Predetermined fixed MOH standard rate $5.00 per direct labor hour Total budgeted fixed MOH cost $20,300 ter the Direct Print Done mpute th DL rate variance but fields and then continue to the next question, F3 F4 F5 F6 F7 F8 mem. The company allocates the company's cost and standards Actual cost and operating data |(Click the icon to view the ac All manufacturing overhead is alle Actual Results Purchased 28,500 yards at a total cost of $407,550 Used 26,300 yards in producing 1,500 awnings Actual direct labor cost of $44,036 for a total of 4,360 hours Actual variable MOH $10,464 Actual fixed MOH $23,300 eth Print Done mter the = Direct ompute the DL rate variance nput fields and then continue to the next question, 000 F4 F3 F5 FB F7