Mixers Ltd. is engaged in producing a standard mix using 60 kg of chemical X and 40 kg of chemical

Y. The standard loss of production is 30%. The standard price of X is Rs.5 per kg and of Y is Rs.10 per kg. The actual mixture and yield were as follows:

X 80 kg @ Rs.4.50 per kg

Y 70 kg @ Rs.8.00 per kg

Actual yield 115 kg.

Calculate all Material Variances

Answer rating: 100% (QA)

Material Variances for Mixers Ltd We can calculate the material variances for Mixers Ltd by comparing the standard costs with the actual costs incurre... View the full answer