Calculating the Yield Variance Refer to Cornerstone Exercise 9.9.
Required:
1. Calculate the yield ratio based on the standard amounts given.
2. Calculate the standard cost per pound of the yield (rounded to the nearest cent).
3. Calculate the standard yield for actual input of 2,000 pounds of direct materials.
4. Calculate the yield variance.
5. What if the total 2,000 pounds of direct materials put into process resulted in a yield of 825 pizzas? How would that affect the yield variance?