Swayan Co. manufactures window curtains, a curtain requires the following: Direct materials standard 10 square yards at $5 per yard * Direct manufacturing labor standard 5 hours at $10/hours * During the first quarter of 2021, the company made 1,500 blankets and used 14,000 square yards of fabric costing $68,600. Direct labor totaled 7,600 hours for $79,800. Required: 1. Compute the direct materials price and quantity variances for the 1st quarter of 2021! 2. Compute the direct manufacturing labor price and efficiency variances for the 1st quarter of 2021! 3. Interpret your answer for question a and b