Kilmartin Fabrics manufactures a specialty monogrammed blanket. The folowing are the cost standards for this blanket EE (cick te oon to view the standards.) Actual results from last month's production of 2,400 blankets are as follows (Clck teon to view the actual results.) Read the reguirements Requirement 1. What is the standand direct maberial cost for one blanket? (Round your answer to the nearest cent) The standard direct material cost for one bianket is S L- t Requirement 2. What is the actual coet per yard of fabric purchase?(Round your answer to the nearest cent.) otal The actual oost per yard of tabric purchased% oss in Direct materials) First detemine the formula for the price variance, then compute the price variance for direct materials Determine the formula for the quarntsity variance, then compute the quanisty variance for direct materials DM quantity varlance Choose from any ist or enter any number in the input lelds and then continue to the next question 5 6 K