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A firm has two ingredients inputs for its finished goods trail mix units: peanuts and candy. Typically the firm uses 12 kilograms of peanuts for
A firm has two ingredients inputs for its finished goods trail mix units: peanuts and candy. Typically the firm uses 12 kilograms of peanuts for every 3 kilograms of candy.
- Peanut standard price is $2.00 per kilogram
- Candy standard price is $6.00 per kilogram
- Peanut actual price is $3.00 per kilogram
- Candy actual price is $5.00 per kilogram
During this period, the firm instead used 90 kilograms of peanuts and 10 kilograms of candy (producing 100 kilograms of trail mix).
What is the firm's mix variance for trail mix this period (round to nearest cent if necessary)?
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