Direct Moterials Usage Variances: Direct Materials Mix and Yield Variancos Energy Products Company produces a gasoline additive, Gas Gain. This product increases engine efficiency and improves gasoline mileage by creating a mere compiete burn in the combustion process. Careful controls are required during the production process to ensure that the proper mix of input chemicals is achieved and that eveporation is controlied. If the controls are not effective, there ean be a lass of output and efficiency. The standard cost of producing a 500-liter batch of Gas Gain is $135.00. The standard direct materials mix and related standard cost of cach chemical used in a So0-liter batch are as follows: The quantities of chemicals purchased and used during the current production period are shown in the following schedule. A total af 120 batches of Gas Gain were manufoctured during the current production period, Energy Products determines its cost and chemical usage variations at the end of each production period. nd round final answers to the nearest cent. (CMA adapted)