Use the following standard cost and actual information to calculate the cost of 1 gallon of ice cream to answer the questions below.

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Use the following standard cost and actual information to calculate the cost of 1 gallon of ice cream to answer the questions below. Actual costs incurred to make 50 gallons of ice cream: - 275 quarts of cream at $1.05 per quart - 165 minutes of labor at $37.00 per hour ( 60 minutes - 1 hour) (a) Calculate the material price variance (b) Calculate the material quantity variance (c) Calculate the labor rate variance (d) Calculate the labor efficiency (hourly) variance Note: indicate if the variance is favorable or unfavorable