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The Naengmyun Corporation uses two materials and two types of labor to manufacture a product. The following are their standards: Material Standard Mix Standard Unit
The Naengmyun Corporation uses two materials and two types of labor to manufacture a product. The following are their standards: Material Standard Mix Standard Unit Price Standard Cost AO 550 units P20.00 P8,000.00 GG 450 units P50.00 P22,500.00 Yield 500 units Labor Type Standard Mix Standard Unit Price Standard Cost Mixing 30 hours P80.00 P2.400.00 Cutting 15 hours P60.00 P900.00 Yield 600 units During the month of November, the following actual production information was provided: Material Actual Mix 3,000 units GG 2,000 units Yield 3.000 units Labor Type Actual Mix Mixing 450 hours Cutting 250 hours Yield 3,000 units Required: 1. Material mix variance 2. Material yield variance 3. Labor mix variance 4. Labor yield variance
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