Review the Problem Information below before beginning and again before answering. Do not change any numbers on the schedules. You operate the Yummy4Tummy Ice Cream Store, selling Ice Cream Cones by the Scoop to Customers You employ high school students as part time direct labor. Last month, your store sold 5000 Scoops of Ice Cream. Yummy Actually used 600 Gallons of Ice Cream at a Total Cost of $2400 The Yummy standard quantity is 0.1 gallon of ice cream per scoop and the Standard cost is $3.50 per Gallon of Ice Cream. The Standard Allowed for Direct labor is 0.05 hours per scoop of ice cream and the standard wage rate is $15 per hour. The Actual Total Cost of high school students was $3600 for 200 hours worked. Review the Completed schedules below and answer the questions below each schedule. Students wait for customers to arrive and are not sent home on slow days Scoops of Ice Cream is your OUTPUT. Direct Materials Actual Total Per Unit Results Actual DM Price Unit Results Variance AQ X SP # of Units DM Quantity Variance Total Standard Standard Allowed Units Produced 1 5,000 5,000 Allowed 5,000 /Unit 1 Direct Materials D.Mat./Unit Produced X Price/Unit of DM 0.12 $4.00 Total Cost of Direct Mat. $0.48 $ 600 2,400 600 500 0.10 S 3.50 S 3.50 $300 U $2,100 $350 U $1,750 $0.35 $650 U Total Direct Material Variance 4 Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DM Quantity Variance. 5 points Score Use only the space provided in Yellow. 5 Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DM Price Variance. 5 points Score Direct Labor Actual Total Per Unit # of Units Total Standard Results Actual Labor Rate DL Efficiency Standard Allowed /Unit Results Variance AQ X SP Variance Allowed /Unit Units Produced 1 5,000 5,000 5,000 1 Direct Labor Units (DL Hours) XDL Price/Hour Total Cost: Dir. Labor 0.04 $18.00 $0.72 $ 200 200 250 0.05 S 15.00 S 15.00 $600 U $3,000 $750 F $3,750 $0.75 $150 F 3,600 Total Direct Labor Variance 6 Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DL Efficiency Variance. 5 points Score Use only the space provided in Yellow. 7 5 points Short Answer: Review the instuctions and schedule above, what are the potential CAUSES of the DL Rate Variance. Score