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NOTE: the correct answers are... 1.) 105 2.)mix variance=32,000F 3.)yield variance=15,200U HOWEVER, I am more concerned with how to solve the problem. please show all
NOTE: the correct answers are...
7. (1) During the month of January, 1,000 pounds of materials were purchased at a cost of $95 per pound. If there was a favorable direct materials price variance of $10,000, the standard cost per pound must be (2) XYZ Co. uses two types of materials in the production. The following standards were developed: Material Standard Mix Standard Unit Price Standard Cost M1 2 units $20 per unit $ 40 M2 3 units 12 per unit $36 Yield 25 units During January, the following actual production information was provided: Material Actual Mix M1 22,000 units M2 43,000 units Yield 320,000 units Determine the mix variance and the yield variance 1.) 105
2.)mix variance=32,000F
3.)yield variance=15,200U
HOWEVER, I am more concerned with how to solve the problem. please show all steps and work. Thank you!
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