Banya Tree Club operates a small manufacturing division that produces various souvenir produets with the resort's logo. One of these products is a beach blanket, which uses standard costing. You have been asked to evaluate the blanket's proctuction data using the following information. 500 beach blankets were produced during the period. Variable overhead is based on direct labour bours. The total predetermined overhead rate is $.25 per hour and the denominator level of activity is 2,400 . Required: 1) Calculate the following by completing all production variances LIST your answers in the following format: No marks will be given for answers not shown in this format: a) The actual price per meter of direet material purchased b) Direct material quantity variance e) Direct labour efficiency variance c) Direct labour rate variance e) Actual direct labour rate f) Variable overhead efficiency variance g) Variable overhead spending variance b) Total actual variable overhead i) Fixed overhesd: a. Total actual fixed overhead b. Total bugeted fixed overhead c. Total applied fixed overhead d. Budget variance e. Volume variance a) Explain posstble causes for 3 of the above variarses (your choice) b) What was the total eost of production, and the cost per blanket