The T. M. Iffy Corporation produces product Z by combining four raw materials during production.

Because of evaporation, it requires 10,000 pounds of raw material input to produce 9,000 pounds of product Z.

Engineering department specifications show the following recommended mix:

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Ingredients Material A Material B Material C Material D Standard quantity Standard allowed (lb) Price (per pound) Standard cost 2,000 $.55 $1,100 4,000 .75 3,000 3,000 .60 1,800 1,000 .15 150 10,000 $6.050 At the end of the period, the following information was obtained from the company records: Actual raw material input: Material A. 3,000 lb Material B 4,800 Material C. 2,750 Material D. 1,450 12,000 lb Actual pounds of product Z produced was 11,000. Required: a Compute the 1 Overall direct materials yield variance 2 Three individual yield variances b Three individual noninterchangeable mix variances (assuming the inputs are not substitutes for each other). c Compute the 1 Three individual pure mix variances 2 Three individual interchangeable mix variances (assuming the inputs are substitutes for each other) d Prepare the necessary journal entries to record all the above direct materials mix and yield variances.