Pop Tent had its first successful year of pop-up tents and has results from the year. PopTent budgeted operating income for the year was $525,000 for 3,500 pop-up tents. PopTent actually sold 3,200 pop-up tents and had an actual operating income of $375,000. PopTent's CEO wants to know why the operating income was less than expected. You can help by answering the following questions: 1) What would be your first step in evaluating how well Pop Tent controlled its costs for the year? After further analysis, PopTent realized that it had two significant unfavorable cost variances in the year: materials quantity variance and labor price variance. 2) Brainstorm two reasons for an unfavorable materials quantity variance. 3) Brainstorm two reasons for an unfavorable labor price variance if Pop Tent did not change any employee's hourly wage amont or hire or fire new employees in the year. B JUST E Insert Formula