Accounting- Castle Company Accounting- Castle Company Question Castle Company produces throw blankets that are popular holiday gifts. Standard variable costs relating to a single blanket are given below Standard Quantity or HoursStandard Price or RateStandard CostDirect materials2.62 yards$5 per yard$?Direct labor1.35 DLH$6.80 per DLH$?Variable manufacturing overhead1.35 DLH$2 per direct labor-hour$?Total standard cost Save your time! Proper editing and formatting Free revision, title page, and bibliography Flexible prices and money-back guarantee ORDER NOW $?Overhead is applied to production on the basis of direct labor hours. During March, 924 blankets were manufactured and sold. Selected information related to the month’s production is given below: Materials UsedDirect LaborVariable Manufacturing OverheadActual costs incurred$11,500 $8,408$3,100 Direct materials price variance Make sure you submit a unique essay Our writers will provide you with an essay sample written from scratch: any topic, any deadline, any instructions. 100% ORIGINAL ORDER NOW Actual2,620 yards1400 hours Direct materials quantity variance$1,000 U Direct labor rate variance Direct labor efficiency variance Variable overhead rate variance Variable overhead efficiency variance *For this month’s production of 924 blanketsSubmit an Excel document with each tab labeled by item number in good form that demonstrates the following through your calculations: 1. What is the standard cost of a single blanket? 2. What was the actual cost per blanket produced during March? 3. What was the direct materials price variance for March? 4. What was the direct labor rate variance for March? The direct labor efficiency variance? 5. What was the variable overhead rate variance for March? The variable overhead efficiency variance?