3 of 5 (2 complete) e company allocates overhead based on standards data: Actual cost and operating data from the most (Click the icon to view the actual results.) All manufacturing overhead is allocated on the i Requirements 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? Print Done A click Check Answer Clear All O L C company allocates overhead based on andards data: Actual cost and operating data from the m (Click the icon to view the actual resul All manufacturing overhead is allocated on Read the requirements. i Standard Price and Volume - X Standards: Direct materials 20.0 yards per awning at $18.00 per yard Direct labor 2.0 hours per awning at $19.00 per hour Variable MOH standard rate $2.00 per direct labor hour Predetermined fixed MOH standard rate $8.00 per direct labor hour Total budgeted fixed MOH cost $36,100 Print Done Clear All e company allocates overhead based on Landards data: Actual cost and operating data from them (Click the icon to view the actual resu All manufacturing overhead is allocated on Read the requirements. Actual Results Purchased 50,400 yards at a total cost of $887,040 Used 46,900 yards in producing 2,400 awnings Actual direct labor cost of $89,700 for a total of 4,600 hours Actual variable MOH $10,120 Actual fixed MOH $41,100 es lo rial Print Done ck Check Answer Clear All O L