Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kashyap Company manufactures its product using three input materials. The budgeted usage of materials for one batch of product was as follows: Material Material

Kashyap Company manufactures its product using three input materials. The budgeted usage of materials for one batch of product was as follows: Material Material 1 Material 2 Material 3 Material Material 1 Material 2 Material 3 Amount of material, lb. 0.25 0.60 0.50 Budgeted production was 240,000 batches and actual production was 272,000 batches. Actual total inputs usage is presented in the table below: Required: Amount of material, lb. 68,160 166,464 128,400 b) What was the total material yield variance? c) What was the total material mix variance? Price per lb. $ 20.00 $ 8.00 $ 6.00 d) What was the material cost variance for each material, in aggregate? Material cost $ 1,295,040 $ 1,498,176 $ 834,600

Step by Step Solution

3.38 Rating (160 Votes )

There are 3 Steps involved in it

Step: 1

Formula required Material Yield Variance Actual Quantity Budgeted Quantity Standard Price Material M... 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

Calculus

Authors: Ron Larson, Bruce H. Edwards

10th Edition

1285057090, 978-1285057095

More Books

Students also viewed these Accounting questions