The coffee bar in The Red Lion Hotel has always proved popular but has never made the expected level of profit. Complete the following variance analysis to identify and quantify the various causes of this profit shortfall. The Red Lion Hotel knows how much a cup of coffee should cost to make (i.e. the 'standard cost') based on the following assumptions:- Arabica Coffee beans being purchased at 3.50 per Kg 1 kg of coffee beans making 40 cups of coffee A coffee barista being able to make 10 coffees per hour, and being paid 7.50 per hour Each cup of coffee incurring variable overheads of 0.04 (paper napkin, milk & sugar) The hotel has a standard selling price of 2.00 for a cup of coffee (a) Using the above information complete the following cost card (including all units) to show the standard cost of one single cup of coffee and the profit contribution that should result.