Pinnuck Products makes a liquid solvent using two grades of petroleum (Grade 1 and Grade 2) Within certain limits, the two grades can substitute for one another, so the actual mix of inputs often differs from the standard mix The standard cost of a unit of output follows Input Grade Quantity Cost per Unit Grade 1 1 2 units $ 8 00 Grade 2 0 8 units $ 6 00 8,000 units were produced during August The actual inputs purchased and used during August were as follows Input Grade Total Quantity Cost per Unit Grade 1 10,000 units $ 7 90 Grade 2 6,200 units $ 6 20 Required Prepare a complete materials variance analysis show the material price variance, the materials efficiency variance, the material mix variance, and the material yield variance (Do not round intermediate calculations Round Standard mix values to 2 decimal places Indicate the effect of each variance by selecting F for favorable, or U for unfavorable If there is no effect, do not select either option )

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Pinnuck Products makes a liquid solvent using two grades of petroleum (Grade-1 and Grade-2). Within certain limits, the two grades can substitute for one another,

Pinnuck Products makes a liquid solvent using two grades of petroleum (Grade-1 and Grade-2). Within certain limits, the two grades can substitute for one another, so the actual mix of inputs often differs from the standard mix. The standard cost of a unit of output follows.

Input Grade	Quantity			Cost per Unit
Grade-1		1.2	units	$	8.00
Grade-2		0.8	units	$	6.00

8,000 units were produced during August. The actual inputs purchased and used during August were as follows.

Input Grade	Total Quantity			Cost per Unit
Grade-1		10,000	units	$	7.90
Grade-2		6,200	units	$	6.20

Required:

Prepare a complete materials variance analysis show the material price variance, the materials efficiency variance, the material mix variance, and the material yield variance. (Do not round intermediate calculations. Round Standard mix values to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)