Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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)?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

I Love My Awesome Auditor

Authors: Lovely Hearts Publishing

1st Edition

1794298169, 978-1794298163

More Books

Students also viewed these Accounting questions

Question

What are the three characteristics of a derivative?

Answered: 1 week ago