A. Rene is working with the operations manager to determine what the standard labor cost is for a spice chest. He has watched the process from start to finish and taken detailed notes on what each employee does. The first employee selects and mills the wood, so it is smooth on all four sides. This takes the employee 1 hour for each chest. The next employee takes the wood and cuts it to the proper size. This takes 30 minutes. The next employee assembles and sands the chest. Assembly takes 2 hours. The chest then goes to the finishing department. It takes 1.5 hours to finish the chest. All employees are crosstrained so they are all paid the same amount per hour, $17.50. P1. What are the standard hours per chest? P2. What is the standard cost per chest for labor? B. Use the following standard cost card for one gallon of ice cream to answer the following questions: STANDARD COST CARD Product: Gallon of Ice Cream All materials used were bought during the current period. Actual direct costs incurred to make 50 gallons of ice cream: - 275 quarts of cream at $1.05 per quart - 29.7 ounces of sugar at $2.10 per quart - 165 minutes of labor at $37 per hour P3. Compute the material variances (overall, price, and quantity). P4. Compute the labor variances (overall, price, and quantity)