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)