Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data:

Actual cost and operating data from the most recent month are as follows:

All manufacturing overhead is allocated on the basis of direct labor hours.

Standards: Direct materials 22.0 yards per awning at $10.00 per yard Direct labor 5.0 hours per awning at $19.00 per hour Variable MOH standard rate $6.00 per direct labor hour Predetermined fixed MOH standard rate $9.00 per direct labor hour Total budgeted fixed MOH cost $92,500 Purchased 48,300 yards at a total cost of $478,170 Used 45,200 yards in producing 2,100 awnings Actual direct labor cost of $200,850 for a total of 10,300 hours Actual variable MOH $63,860 Actual fixed MOH $95,500 1. Calculate the standard cost of one awning. 2. Calculate the following variances: a. The direct material variances. b. The direct labor variances. c. The variable manufacturing overhead variances. d. The fixed manufacturing overhead variances. 3. Explain what each of the variances you calculated means and give at least one possible explanation for each of those variances. Are any of the variances likely to be interrelated