Karyn Fabrics manufactures a specialty monogrammed blanket. The following are the cost standards for this blankart (Click the icon to view the standards.) Actual results from last month's production of 1,900 blankets are as follows: (Click the icon to view the actual results.) Read the requirements. cost Data table Actual cost of 10,640 yards of direct material (fabric) purchased .$ 75,544 Actual yards of direct material (fabric) used Actual wages for 4,890 hours worked. 10,190 $ 64,059 Print Done This test: 100 This question Data table Direct materials (fabric) Direct labor 5.0 yards per blanket at $8.00 per yard 2.5 direct labor hours per blanket at $14.00 per hour Print Done -X or ost Requirements ch 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? Print Done - X Data table the form Direct materials (fa Direct labor