1 Review the Problem Information below before beginning and again before answering. Do not change any numbers on the schedules. 2 You operate the Yummy4Tummy Ice Cream Store, selling Ice Cream Cones by the Scoop to Customers 3 You employ high school students as part time direct labor. Students wait for customers to arrive and are not sent home on slow days 4 Last month, your store sold 5000 Scoops of Ice Cream. Scoops of Ice Cream is your OUTPUT. 5 Yummy Actually used 600 Gallons of Ice Cream at a Total Cost of $2400 6 The Yummy standard quantity is 0.1 gallon of ice cream per scoop and the Standard cost is $3.50 per Gallon of Ice Cream. 7 The Standard Allowed for Direct labor is 0.05 hours per scoop of ice cream and the standard wage rate is $15 per hour. 8 The Actual Total Cost of high school students was $3600 for 200 hours worked. Review the Completed schedules below and answer the questions below each schedule. 10 11 12 Actual Results Direct Materials Total Per Unit Actual 13 /Unit Results DM Price Variance Units Produced 1 5,000 AQX SP 5,000 # of Units DM Quantity Variance Total Standard Standard Allowed Allowed /Unit 5,000 14 15 16 Direct Materials D.Mat./Unit Produced 17 18 0.12 X Price/Unit of DM $4.00 Total Cost of Direct Mat. $0.48 $ 600 600 500 0.10 2,400 19 20 Total Direct Material Variance 4 Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DM Quantity Variance. 3.50 $300 U $2,100 $650 U $ 3.50 $350 U $1,750 $0.35 21 5 points 22 23 Score 24 25 26 Use only the space provided in Yellow. 5 Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DM Price Variance. 5 points 27 28 Score 29 30 Direct Labor B1 82 83 34 85 36 87 88 Units Produced Direct Labor Units (DL Hours)||| X DL Price/Hour Total Cost: Dir. Labor Actual Results Total Actual Per Unit Unit Results Labor Rate Variance AQ X SP # of Units DL Efficiency Variance 1 5,000 5,000 Total Standard Allowed 5,000 Standard Allowed /Unit 1 0.04 $18.00 $0.72 $ 200 89 10 41 3,600 Total Direct Labor Variance 6 Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DL Efficiency Variance. 200 250 0.05 $ 15.00 15.00 $600 U $3,000 $150 F $750 F $3,750 $0.75 12 5 points 13 34 Score 45 76 17 Use only the space provided in Yellow. 7 Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DL Rate Variance. 5 points 18 19 Score 50 51 SAVE As "Yourname YourCRN_Final" then Close then Submit this file to Blackboard Assignments. You may reopen this file after submitting. 52 53