Variance Computations and Explanations Adventure Company manufactures camping tents from a lightweight synthetic fabric. Each tent a standard materials cost of $42, consisting of 4 yards of fabric at $10.50 per yard. The call for 2 hours of assembly at $20 per hour. The following data were recorded for October, the fs LO3, 4 P23-32. has standards the first month of operations MBC abric purchased.. 9,000 yards x $10.00 per yars Fabric used in production of 1,700 tents.. Direct labor used . . . . . . . . .. 7,000 yards Required a. Compute all standard cost variances for materials and labor. b. Give one possible reason for each of the preceding variances. c. Determine the standard variable cost of the 1,700 tents produced, separated into direct materials and labor