Hazel owns a fruit smoothie shop at the local mall. Each smoothie requires 3/4 pound of mixed berries, which are expected to cost $6 per pound during the summer months. Shop employees are paid $15 per hour. Variable overhead consists of utilities and supplies. The variable overhead rate is $0.04 per minute of DL time. Each smoothie should require 3 minutes of DL time. 1. What is the standard cost of direct materials for each smoothie? 2. What is the standard cost of direct labor for each smoothie? 3. What is the standard cost of variable overhead for each smoothie? Compute the standard cost of each of the following inputs per smoothie: (1) direct materials, (2) direct labor, (3) variable overhead. Begin by selecting the formula to calculate the standard cost of input, then enter the amounts and calculate the standard cost for each input. (Round your answers to the nearest cont.) - Standard cost of input pound per pound 1) Direct materials 2) Direct labor 3) Variable overhead hour per hour minutes per minute Heidi owns a fruit smoothie shop at the local mall. Each smoothie requires 1/2 pound of mixed berries, which are expected to cost $7 per pound during the summer months. During the month of June, Heidi purchased and used 2,825 pounds of mixed berries at a cost o $6.90 per pound. Heidi's shop sold 5,600 smoothies during the month. 1. Calculate the DM price variance. Is the variance favorable or unfavorable? 2. Calculate the DM quantity variance (also known as a DM efficiency variance). Is the variance favorable or unfavorable? 3. Calculate the total DM variance. Is the variance favorable or unfavorable? 1. Calculate the DM price variance. Is the variance favorable or unfavorable? Begin by determining the formula for the price variance, then compute the price variance for the direct materials. (Enter the variance as a positive number. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM - Direct materials) X - DM price variance 2. Calculate the DM quantity variance (also known as a DM efficiency variance). Is the variance favorable or unfavorable? Determine the formula for the quantity variance, then compute the quantity variance for the direct materials. (Enter the variance as a positive number. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dolar. Label the variance as favorable (F) or unfavorable (U).) ) DM quantity variance 3. Calculate the total DM variance. Is the variance favorable or unfavorable? (Enter the variance as a positive number.) The total DM variance is $