Kashyap Company manufactures its product using three input materials. The budgeted usage of materials for one...

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Kashyap Company manufactures its product using three input materials. The budgeted usage of materials for one batch of product was as follows: Material Material 1 Material 2 Material 3 Material Material 1 Material 2 Material 3 Amount of material, lb. 0.25 0.60 0.50 Budgeted production was 240,000 batches and actual production was 272,000 batches. Actual total inputs usage is presented in the table below: Required: Amount of material, lb. 68,160 166,464 128,400 b) What was the total material yield variance? c) What was the total material mix variance? Price per lb. $ 20.00 $ 8.00 $ 6.00 d) What was the material cost variance for each material, in aggregate? Material cost $ 1,295,040 $ 1,498,176 $ 834,600 Kashyap Company manufactures its product using three input materials. The budgeted usage of materials for one batch of product was as follows: Material Material 1 Material 2 Material 3 Material Material 1 Material 2 Material 3 Amount of material, lb. 0.25 0.60 0.50 Budgeted production was 240,000 batches and actual production was 272,000 batches. Actual total inputs usage is presented in the table below: Required: Amount of material, lb. 68,160 166,464 128,400 b) What was the total material yield variance? c) What was the total material mix variance? Price per lb. $ 20.00 $ 8.00 $ 6.00 d) What was the material cost variance for each material, in aggregate? Material cost $ 1,295,040 $ 1,498,176 $ 834,600

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Formula required Material Yield Variance Actual Quantity Budgeted Quantity Standard Price Material M... View the full answer