Question1 Bilko Ltd manufactures a special decorative floor tile. The tiles measure 1/2m x 1/4m x 0.01m The tiles are manufactured in a process which requires the following standard mix: Cost Quantity k.g. Material Price 25 30 30 15 1.20 1.30 1.00 1.40 30 39 30 21 120 Each mix should produce 100 square metres of floor tiles of 0.01m thickness which is 800 tiles During January 2018, 60 mixes were processed and the actual output was 46,400 tiles, from the following input Material Price Cost Quantity k.g. 1600 2000 1900 850 1.30 1.20 0.90 1.50 2080 2400 1710 1275 7465 Required For the month of January calculate for each material 1. price variance 2. usage variance 3. mix variance 4. yield variance