Clarissa McWhirter, vice-president of Cyprus Company, was pleased to see a small variance on the income statement after the trouble the company had been having in controlling manufacturing costs. She noted that the $29,590 overall manufacturing variance reported last period was well below the 3% limit that had been set for variances. The company produces and sells a single product The standard cost card for the product follows Standard Cost Card-Per Unit 13.20 s hour labour-hour hour Direct materials, 4 metres at $3.30 per metre Direct labour, 1.1 direct labour-hours at $13.5 per direct labour 14.85 Variable overhead, 1.1 direct labour-hours at $2.3 per direct Fixed overhead, 1.1 direct labour-hours at $4 per direct labour-4.40 2.53 Standard cost per unit s 34.98