(Cick the ion to vew the atantards.) Actual results ficm tast months producton of 1,700 blarkets are as folow: (Cick the licon to view the achal resitis) Piesd the tequirements The siandivd dinect material cont for ore blarket is Requirements 1. What is the standard deect inaterai cost lor one thanien? 2. What is the actual coet per yavd of fatric purchssedt 2. Casculate the drect maserial proce and quantif variances. 4. What is tow standard drect labor cost for one blenkent 5. What is the actual drect iabor cost per hour? 6. Calcubte the drect labor rate and effoency variancet. 7. Arayce esch variance and speculate at ta what may have cassed that variance. 5. Look at al four variacest together ine big pictued How mift they all be related? What varance is very sholy to here cauted twe other varances? Karyn Fabrics manufactures a specialty monogrammed blanket. The following are the cost standards for this blanket: (Click the icon to view the batandards.) Actual results from last month's production of 1,700 blankets are as follows: (Click the icon to view the actual results.) Read the requirements. Requirement 1. What is the standard direct material cost for one blanket? (Round your answer to the nearest cent.) The standard direct material cost for one blanket is Data table Data table 1. What is the standard direct material cost for one blanket? 2. What is the actual cost per yard of fabric purchased? 3. Calculate the direct material price and quantity variances. 4. What is the standard direct labor cost for one blanket? 5. What is the actual direct labor cost per hour? 6. Calculate the direct labor rate and efficiency variances. 7. Analyze each variance and speculate as to what may have caused that variance. 8. Look at all four variances together (the big picture). How might they all be related? What variance is very likely to have caused the other variances