Kimartin Fabrics manufactures a specialty monogrammed blanket. The following are the cost standards for this blanket Click the icon to view the standards.) Actual results from last month's production of 2,100 blankets are as follows Cac the loon to view the actual sus) Read the requirements Requirement 1. What is the standard direct material cost for one blanket Hound your awer to the newest cont The standard direct material cost for one blanket is $ 30.00 Requirement 2. What is the actual cost per yard of fabric purchad? (Round your answer to the nearest Cont) The actual cost per yard of fabric purchased $ 7.00 nearest cant and then found ne a nce Requirement 3. Calculate the direct material price and quantity variances (Enter the vacances as positive numbers Enter currency amounts dollar Label the variance as favorable For unfavorable (U) Abbreviations us OM-Direct males) First determine the formula for the price variance then compute the price variance for direct materials Choose from any or enter any number in the input fields and then click Check Answer Check Answer Clear A 8 remaining M AAR WORKOU Question Help Kimartin Fabrics manufactures a specialty monogrammed blanket. The following are the cost sandards for this bar Click the icon to view the standards) Actual results from last month's production of 2,100 ans are as follows: Click the icon to view the actual results.) Read the requirements Data Table Requirement 1. What is the standard direct matonal cost for one bankaround your answer to the neare Directorat) Ovector 40 yrs per brett 7 per yerd 0.5 drewbor hours per blanket af 13.00 per hour The standard direct material cost for one wants Requirement 2. What is the actual couper yard of tabe purchase Round your answer to the recent The actual color yard of purchased n e n Requirements Calculate the direct material price and quantity variances the variances ve dolar Label the variance as favorable For unfavorable (U) Abbreviations used: M e t materials) First determine the formula for the price variance, the compute the price variance for de materiais 0 Data Table oc purchased 10 Actual cost of 450 yards of direct mar Actual yards of direct man u sed Actual wages for 1.180 hours worked Choose from any list or enter any number in the input fields and then click Check Answer Print Done 8 O remaining Check Answer manufactures a specially monogrammed blanket. The following are in to view the standards) im last month's production of 2.100 blankets are as follows: on to view the actual results.) Requirements amonts What is the standard direct material cost for one blanket? (Round your answer to the na irect material cost for one blanket is $ 30.00 1 What is the standard direct material cost for one ? 2. What is the actual cost per yard of fabric purchased? Calculate the direct material price and quality wa s What is the standard direct labor cost for one What is the actual direct labor cost per hour? Calculate the direct laborate and efficiency variances Analyze each varance and se e what may have used variance Look at all four variances together the big picture) How might they albo related? What variance is very ly to have caused the variances? . What is the actual cost per yard of fabric purchased? (Round your answer to the nearest cont) per yard of fabric purchased $ 7.00 5. Calculate the direct material price and quantity variances (Enter the variances as positive number variance as favorable (F) or unfavorable (U). Abbreviations used: OM Direct materials) Print Dono the formula for the price variance, then compute the price variance for direct materials DM price variance
