Tarptent manufactures camping tents from a lightweight synthetic fabric. Assume the company's two-person tent has a standard materials cost of $60, consisting of 4 yards of fabric at $15 per yard. The standards call for 1.5 hours of assembly at $20 per hour. The following data were recorded for October, the first month of operations to produce 13,200 tents. Fabric purchased and used in production 53,350.00 yards x $14.50 per yard Direct labor used REQUIRED 20,350.00 hours x $19.50 per hour a. Compute all standard cost variances for materials and labor. Note: Do not use negative signs with your answers. Materials price variance $ 26,675 F Materials quantity variance $ 0x U Labor rate variance $ 0x F Labor efficiency variance $ 0x U b. Give one possible reason for each of the preceding variances. Direct materials price variance: Direct materials quantity variance: Labor rate variance: Labor efficiency variance: Buying materials in larger quantities, resulting in purchase discounts. Use of inferior materials which causes rejects and the use of additional materials Lower paid workers than budgeted. Unskilled workers or new workers which causes ineffiencies on the production line. c. Determine the standard variable cost of the 13,200 tents produced, separated into direct materials and labor. Note: Do not use negative signs with your answers. Direct materials $ 0 x Direct labor $ 0 x Total standard variable cost for 13,200 tents $ 0 x