(Appendix} Venus Williams Food Industries produces three-topping, 18-inch frozen pizzas and uses a standard cost system. The three pizza toppings (in addition to cheese) are onions, olives, and mushrooms. To some extent, dis¬ cretion may be used to determine the actual mix of these toppings. The company has two classes of labor, and discretion also may be used to deter¬ mine the mix of the labor inputs. The standard cost card for a pizza follows:

During the month there were no deviations from standards on material prices or labor rates.

a. Determine the material quantity, mix, and yield variances.

b. Determine the labor efficiency, mix, and yield variances.

c. Prepare the journal entries to record the above mix and yield variances.LO.1

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Onions Olives Mushrooms Labor category 1 Labor category 2 3 ounces at $0.10 per ounce 3 ounces at $0.35 per ounce 3 ounces at $0.50 per ounce 5 minutes at $12 per hour 6 minutes at $8 per hour During May 2006, the company produced 12,000 pizzas and used the fol- lowing inputs: Onions 2,000 pounds Olives 3,000 pounds Mushrooms 2,000 pounds Labor category 1 Labor category 2 1,300 hours 1,000 hours