The price of chocolate had been predicted to increase rapidly in late 2013 and continue into 2014, according to the Wall Street Journal. The price increase due to multiple factor including a shortage of and an increase in demand by consumers, although the demand for all chocolate has been increasing consumer tastes have been towards dark chocolate because of its benefit. Dark chocolate uses more cocoa beans per ounce than milk chocolate. So what does price increase mean for companies that use chocolate and/cocoas beans? The hereby Company produces several production that use chocolate and/or cocoa beans. Which of the following variances for Hershey's chocolate products are likely to be impacted by the projected price increase in the cost of chocolate? Explain your answer. Direct material price variance Direct material quantity variance Direct labor rate variance Direct labor efficiency variance Hershey's Special Dark Middle sweet chuckled Bar and Hershey's Milk chocolate with Almonds Bar both weigh 1-45 Which bar's variance are more likely to be impacted by the increase in the cost of chocolate? Since The Hershey Company's management knows that the price of chocolate is likely to increase, it might receive one or more of its standards. Which standard(s) would be imported? What would be the benefit of receiving the standard(s) before the end of the reporting period