Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer the following: D Question 3 33 pts Foodhome manufactures baked beans of different kinds including variety named SuperBeans. SuperBeans is made by mixing

Please answer the following:

image text in transcribed
D Question 3 33 pts Foodhome manufactures baked beans of different kinds including variety named SuperBeans. SuperBeans is made by mixing beans, tomatoes and Cornflour. Budgeted costs to produce 100 kg of SuperBeans in December 2019 are as follows: Ingredients Weight (in kg) Price per kg(f) Beans 50 0.28 Tomatoes 37 1.00 Cornflour 13 0.45 Actual data to manufacture 50,000 kg of mixed beans for December are as follows: Ingredients Weight (in kg) Price per kg(f) Beans 26,520 0.30 Tomatoes 20,800 1.05 Cornflour 4,680 0.40 Required a. Compute the following variances: 1. Material price variance 2. Material efficiency variance 3. Material mix variance 4. Material yield variance (20 marks) b. Draw a diagram to reconcile variances computed above (5 marks) c. Interpret the variance computed above (8 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

More Books

Students also viewed these Accounting questions