FX Inc. produces a product called Slime. A 3 liter package of Slime uses three substitutable inputs - Goop, Gunk, and Glop. The following is the standard cost direct material cost of these three inputs for one package of Slime: Recently, 1,000 packages of slime were produced using the following actual inputs and actual costs of the inputs: 1. Calculate the Direct material price, mix and yield variances. 2. Explain why the mix variance is favorable or unfavorable. Be specific and use your solution in your explanation FX Inc. produces a product called Slime. A 3 liter package of Slime uses three substitutable inputs - Goop, Gunk, and Glop. The following is the standard cost direct material cost of these three inputs for one package of Slime: Recently, 1,000 packages of slime were produced using the following actual inputs and actual costs of the inputs: 1. Calculate the Direct material price, mix and yield variances. 2. Explain why the mix variance is favorable or unfavorable. Be specific and use your solution in your explanation