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Review the Problem Information below before beginning and again before answering. Do not change any numbers on the schedules. You operate the Yummy4Tummy Ice Cream Store, selling Ice Cream Cones by the Scoop to Customers You employ high school students as part time direct labor. Students wait for customers to arrive and are not sent home on slow days Last month, your store sold 5000 Scoops of Ice Cream. Scoops of Ice Cream is your OUTPUT. Yummy Actually used 600 Gallons of Ice Cream at a Total Cost of $2400 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. The Standard Allowed for Direct labor is 0.05 hours per scoop of ice cream and the standard wage rate is $15 per hour. 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. Direct Materials Actual Total Per Unit # of Units Total Standard Results Actual DM Price DM Quantity Standard Allowed Unit Results Variance AQ X SP Variance Allowed /Unit Units Produced 1 5,000 5,000 5,000 1 Direct Materials D. Mat./Unit Produced 0.12 600 600 500 0.10 X Price Unit of DM $4.00 S 3.50 $ 3.50 Total Cost of Direct Mat. $0.48 S 2,400 $300 U $2,100 $350 U $1,750 $0.35 Total Direct Material Variance $650 U 4 Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DM Quantity Variance. 5 points - 3 Score 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. 3 points Score Actual Results Unit 1 Direct Labor Total Per Unit Actual Labor Rate Results Variance 5,000 # of Units DL Efficiency AQX SP Variance 5,000 Total Standard Allowed 5,000 Standard Allowed Unit 1 Units Produced Direct Labor Units (DL Hours) X DL Price Hour Total Cost: Dir. Labor 250 s 0.04 200 $18.00 $0.72 S 3,600 $600 U Total Direct Labor Variance 200 15.00 $3,000 $150 F 0.05 15.00 $0.75 $750 F $3,750 6 Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DL Efficiency Variance. _points. - Score 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. 3 points Score