P11-54B (similar to) Question Help Karyn Fabrics manufactures a specialty monogrammed blanket. The following are the cost standards for this blanket EEl (Click the icon to view the standards.) Actual results from last month's production of 1,700 lakets are as follows: EEE (Click the icon to view the actual results.) Read the requirements Data Table Direct materials (fabric) 5.0 yards per blanket at $9.00 per yard 2.5 direct labor hours per blanket at $16.00 per hour Direct labor Requirement 1. What is the standard direct material cost for one blanket? (Round your answer to the nearest cent.) Print Done The standard direct material cost for one blanket is S Requirements 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 Actual cost of 9,520 yards of direct material (fabric) purchased...... S Actual yards of direct material (fabric) used. Actual wages for 4,400 hours worked 78,064 8,820 S 67,320 vanance. Look at all four variances together (the big picture). How might they all be related? What variance is very ikely to have caused the other variances? 8. Print Done Print Done Clear Al Check