Problem 17-38 Materials Mix and Yield Variances (LO 17-4) Houston Corporation manufactures a wide variety of chemical compounds and liquids for industrial uses. The standard mix for producing a single batch of 1,000 litors of Rust Of is as follows: Input Quantity Cost Total Chemical (in terms) (per iter) Cost z-Alpha 600 S0 $ 5,400 z-Beta 450 12 5400 z-Gamma 200 24 4,800 1,250 $15,600 There is a 20 percent loss in liquid volume during processing due to evaporation. The finished liquidis put into 5 iter bottes for sale. Thus, the standard material cost for a5- Iter botte is $78|- ($15,000 1,000 iters) - 5 Iors per bottle) The actual quantities of direct materials and the cost of the materials placed in production during March were as follows (materials are purchased and used at the same time); Input Chemical Quantity (n ters) Total Cost 2-Alpha 50 400 $ 423,360 z-Beta 37,040 400 464 z-Gamma 16,000 417 216 104 400 $1,241,040 A total of 16,000 bottles (80,000 iters) were produced during March Required: Calculate the total direct material variance for the liquid product for the month of March and then further analyze the total variance Into: (a) & (b) Materials price and efficiency variances, materials mox and yield variances. (Indicate the effect of each variance by selecting "F" for favorable, u for unfavorable, and "None" for ne effect (p, pero variance). Do not round your intermediate calculations. Round "Standard mix values" to 2 decimal places and the final answers to the nearest dolar amount) Input Direct Material Mix Variance Yield Variance Emiciency Variance Purchase Price Variance ZAlpha z-Beta Z-Gamma