Read the following article: https://accountingintheheadlines.com/2015/01/27/how-will-cost-standards-be-impacted-at-pez-candy-inc-by-the-rising-cost-of-sugar-and-labor/

1. What cost standards will most likely be adjusted at PEZ for the rising costs? When do you think these standard adjustments will be made?

2. If the related cost standard is not adjusted, what variance(s) will be impacted by the rising cost of sugar? What department would typically be responsible for explaining this variance(s)?

3. If the related cost standard is not adjusted, what variance(s) will be impacted by the rising cost of labor? What department would typically be responsible for explaining this variance(s)?