This includes standards for such items as food, labor, and paper products. Given the level of sales volume achieved, the actual costs incurred are compared to the standard costs that should have been achieved for each cost item. Go to the text Web site at www.cengage.com/accounting/ vanderbeck and click on the link to McDonald’s Web site. Then click on the 2008 Consolidated Statement of Income. Assuming that the 2007 operating results were used in setting standards for 2008, what cost items do you expect had favorable or unfavorable variances in 2008?