Question 14 Partially correct Mark 0.62 out of 1.00 P Hag question Variance Computations and Explanations Outdoor Company manufactures camping tents from a lightweight synthetic fabric. Each tent has a standard materials cost of $21, consisting of 4 yards of fabricat $5.25 per yard. The standards call for 2 hours of assembly at $10 per hour. The following data were recorded for October, the first month of operations: Fabric purchased 0,000 yards x 55.00 per yard Fabric used in production of 1,700 tents 7.000 yards Direct laborused 3.600 hoursx 510.75 per hour (a) Compute all standard cost variances for materials and labor. Materials price wariance (usage basis) Materials price variance purchase basis Material quantity wariance Labor rate variance bor efficiency variance (b) Determine the standard variable cost of 1,700 tents produced, separated into direct materials and labor. Direct materials Direct labor Total standard abeco 5 $ $ 35700 34000 9700 Check