Chypre, Inc., produces a cologne mist using a solvent mix (water and pure alcohol) and aromatic compounds (the scent base) that it sells to other companies for bottling and sale to consumers. Chypre developed the following standard cost sheet:

Direct Material	Mix		Mix Proportion	SP	Standard Cost
Solvent mix	760	gallons	0.95	$ 5.27	$ 4,005.20
Aromatic compounds	40		0.05	8,000.00	320,000.00
Total	800	gallons			$324,005.20
Yield	720	gallons

On May 2, Chypre produced a batch of 1,000 gallons with the following actual results:

Direct Material	Actual Mix
Solvent mix	945	gallons
Aromatic compounds	55
Total	1,000	gallons
Yield	880	gallons

Chypre, Inc., purchased the amount used of each direct material input on May 2 for the following actual prices: solvent mix for $5.20 per gallon, and aromatic compound for $8,010 per gallon.

Required:

Question Content Area

1. Compute the direct materials price variances. If required, round your answers to the nearest cent.

Solvent mix:
MPV	$fill in the blank df9b6efedfb8009_1	FavorableUnfavorableFavorable
Aromatic compounds:
MPV	$fill in the blank df9b6efedfb8009_3	FavorableUnfavorableUnfavorable

Question Content Area

Journalize the direct materials price variances. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank.

Solvent mix:	CashOverhead ControlFinished GoodsDirect Materials Usage VarianceMaterialsWork in ProcessMaterials	Materials	Materials
	Finished GoodsOverhead ControlDirect Materials Usage VarianceDirect Materials Price VarianceWork in ProcessCashDirect Materials Price Variance	Direct Materials Price Variance	Direct Materials Price Variance
	Overhead ControlFinished GoodsAccounts PayableDirect Materials Usage VarianceMaterialsWork in ProcessAccounts Payable	Accounts Payable	Accounts Payable
Aromatic compounds:	CashOverhead ControlFinished GoodsDirect Materials Usage VarianceMaterialsWork in ProcessMaterials	Materials	Materials
	CashOverhead ControlFinished GoodsDirect Materials Price VarianceWork in ProcessDirect Materials Price Variance	Direct Materials Price Variance	Direct Materials Price Variance
	Accounts PayableOverhead ControlFinished GoodsDirect Materials Price VarianceMaterialsWork in ProcessAccounts Payable	Accounts Payable	Accounts Payable
Combined:	CashOverhead ControlFinished GoodsDirect Materials Usage VarianceMaterialsWork in ProcessMaterials	Materials	Materials
	CashOverhead ControlFinished GoodsDirect Materials Usage VarianceWork in ProcessDirect Materials Price VarianceDirect Materials Price Variance	Direct Materials Price Variance	Direct Materials Price Variance
	Accounts PayableOverhead ControlFinished GoodsDirect Materials Price VarianceMaterialsWork in ProcessAccounts Payable	Accounts Payable	Accounts Payable

Question Content Area

2. Compute the direct materials usage variance. In your computations, round the standard quantities to two decimal places. Round your final answer to the nearest cent. $fill in the blank 11c94801e00006c_1

FavorableUnfavorableNot applicableUnfavorable

Question Content Area

Journalize the direct materials usage variances. In your computations, round the standard quantities to two decimal places. Round your final answers to the nearest cent. If an amount box does not require an entry, leave it blank.

Solvent mix:	CashFinished GoodsOverhead ControlAccounts PayableMaterialsWork in ProcessWork in Process	Work in Process	Work in Process
	CashFinished GoodsOverhead ControlDirect Materials Usage VarianceMaterialsDirect Materials Usage Variance	Direct Materials Usage Variance	Direct Materials Usage Variance
	Direct Materials Usage VarianceCashFinished GoodsOverhead ControlAccounts PayableMaterialsWork in ProcessMaterials	Materials	Materials
Aromatic compounds:	CashFinished GoodsOverhead ControlAccounts PayableMaterialsWork in ProcessWork in Process	Work in Process	Work in Process
	CashFinished GoodsOverhead ControlDirect Materials Usage VarianceMaterialsDirect Materials Usage Variance	Direct Materials Usage Variance	Direct Materials Usage Variance
	Direct Materials Usage VarianceCashFinished GoodsOverhead ControlAccounts PayableMaterialsWork in ProcessMaterials	Materials	Materials
Combined	CashFinished GoodsOverhead ControlAccounts PayableMaterialsWork in ProcessWork in Process	Work in Process	Work in Process
	CashFinished GoodsOverhead ControlDirect Materials Usage VarianceMaterialsDirect Materials Usage Variance	Direct Materials Usage Variance	Direct Materials Usage Variance
	Direct Materials Usage VarianceCashFinished GoodsOverhead ControlAccounts PayableMaterialsWork in ProcessMaterials	Materials