Question: The following information is provided about three materials utilized in the production of a product: Material Y Z Yield Standard Mix Standard Unit Price

The following information is provided about three materials utilized in the production of a product: Material Y Z Yield Standard Mix Standard Unit Price Standard Cost 1,250 units $3.00 per unit $3,750 750 units 5.00 per unit $3,750 500 units 4.00 per unit $2,000 2,250 units During May, the following actual production information was provided: Material Actual Mix X Y Z Yield 10,000 units 5,000 units 2,500 units 15,000 units Calculate the Material mix variance. Oa. $1,250(F) Ob. $1,250(U) Oc. $1,500(F) Od. $1,500(U)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Exercise 3-14A (Algo) Effect of accounting events on the income statement and statement of cash flows LO 3-1, 3-2, 3-3 Required: Explain how each of the following events or series of events and the...

On July 1, 2014, Sparks Company purchased for $2,160,000 snow-making equipment having an estimated useful life of 5 years with an estimated residual value of $90,000. Depreciation is taken for the...

The following information is provided about three materials utilized in the production of a product: Material Standard Mix Standard Unit Price Standard Cost X 1,250 units $3.00 per unit $3,750 Y 750...

28.The following information is provided about three materials utilized in the production of a product: Material Standard Mix Standard Unit Price Standard Cost X 1,250 units $3.00 per unit $3,750 Y...

Direct Materials Usage Variance, Direct Materials Mix and Yield Variances Vet-Pro, Inc., produces a veterinary grade anti-anxiety mixture for pets with behavioral problems. Two chemical solutions,...

Limpio, Inc., produces a key ingredient for liquid laundry detergents. Two chemical solutions, Chem A and Chem B, are mixed and heated to produce a cleansing chemical that is sold to companies that...

LaPointe Corporation uses two different types of labor to manufacture its product. The types of labor, Cutting and Setup, have the following standards: Labor Type Standard Mix Standard Unit Price...

Montecino Corporation uses two different types of labor to manufacture its product. The types of labor, Cutting and Setup, have the following standards: Labor Type Standard Mix Standard Unit Price...

The following information is provided for a company that manufactures a single product: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 5 pounds $ 1 1 . 0 0 per pound...

Acme Inc. uses a standard cost system in which direct materials inventory is carried at standard cost. The following information pertains to Acme's direct materials standards and actual production...

What are Auditing Standards (AS)? Statements on Auditing Standards (SAS)? Which entity issues each? How are they related? To what kinds of audits does each apply?

state 5 instances when the company may alter its object clause?

The function f i s given b y f ( x ) = 5 x 6 - 2 x 3 - 3 . Which o f the following describes the end behavior o f f ? 4 PREMB 2 2 lim x - f ( x ) = - and lim x f ( x ) = lim x - f ( x ) = - and lim x...

Sweet Enterprises Ltd., a private company following ASPE earned accounting income before taxes of $1,721,000 for the year ended December 31, 2020. During 2020, Sweet paid $230,000 for meals and...

On December 31, 2020, Grouper Corp. had a $11,100,000, 7.0% fixed-rate note outstanding, payable in 2 years. It decides to enter into a 2-year swap with Chicago First Bank to convert the fixed-rate...

On June 1, 2020, Sheffield Corporation approached Silverman Corporation about buying a parcel of undeveloped land. Silverman was asking $258,000 for the land and Sheffield saw that there was some...

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

=+a. The initial investment b. Operating cash flow c. Terminal cash flow d. Summary of annual cash flow e. Based on their disposable annual income, what advice would you give Antonio and Alessia...

=+LG 3 LG 4 P1126 Determining net cash flows for a new car Antonio and his wife Alessia are considering the purchase of a new car and have decided that estimating its cash flows will help them in...

=+a. Calculate the initial investment associated with the replacement of the existing line by the new one.