Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need ans within 15 minutes my best wishes ton QUESTION TWO FSN Limited produces a product by mixing two raw materials. The mixture for
I need ans within 15 minutes my best wishes ton
QUESTION TWO FSN Limited produces a product by mixing two raw materials. The mixture for an order for a customer was set as follows: Material Standard mix Standard cost per unit L 40% Sh.4 M 60% Sh.3 The standard loss in process is 15%. In the month of January 2018, the company produced 1 700 units. The position of stock and purchases for the month is as provided: Material Stock Stock Purchases 1/01/2018 31/01/2018 Unit Cost Sh Units Units L 35 5 900 3,400 M 40 50 1,200 3,000 Required: i) Material cost variance. i) Price variance iii) Usage variance iv) Mix variance v) Yield variance vi) Verification of variances (7 Marks) Marks) (7 Marks) (7 Marks) (3 Marks) (2 Marks)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started