Question

In: Accounting

XYZ Ltd has established the following standard mix for producing 9 gallons of A       ...

XYZ Ltd has established the following standard mix for producing 9 gallons of A
                           GH
5 gallons –material X at GHc 7 per gallon        35
3 gallons –Material Y at GHc 5 per gallon        14
2 gallons- Material Z at GHc 2 per gallon        4
A standard loss of 10% of input is expected to occur. Actual input was:
Material X-53,000 gallons at Ghc 7 per gallon
Material Y-28,000 gallons at GHc 5.30 per gallon
Material Z- 19,000 gallons at Ghc 2.20 per gallon
Actual output for the period was 92,700 gallons
Calculate:
i.   Material Mix Variance
ii.   Material Yield Varience

Solutions

Expert Solution

Solution:

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Ocean Side Ltd uses a standard costing system and has developed the following standards for producing...
Ocean Side Ltd uses a standard costing system and has developed the following standards for producing small inflatable life rafts. Direct materials 2.5 metres at $5 per metre Direct labour 3.5 hours at $15 per hour Variable overhead $10 per direct labour hour Fixed overhead $5 per direct labour hour Ocean Side produced 500 life rafts in the month of June. During June they purchased 2,000 metres of material at a cost of $12,000 and used 1,200 metres of material...
Ocean Side Ltd uses a standard costing system and has developed the following standards for producing...
Ocean Side Ltd uses a standard costing system and has developed the following standards for producing small inflatable life rafts. Direct materials 2.5 metres at $5 per metre Direct labour 3.5 hours at $15 per hour Variable overhead $10 per direct labour hour Fixed overhead $5 per direct labour hour Ocean Side produced 500 life rafts in the month of June. During June they purchased 2,000 metres of material at a cost of $12,000 and used 1,200 metres of material...
ammer Company produces jelly using strawberries and raspberries. Jammer developed the following standard mix for producing...
ammer Company produces jelly using strawberries and raspberries. Jammer developed the following standard mix for producing 120 gallons of jelly: Direct Material Mix Mix Proportion SP Standard Cost Strawberries 128 lbs. 0.80 $0.50 $64 Raspberries 32 lbs. 0.20 $1.00 $32 Total 160 lbs. $96 Jammer put a batch of 1,600 pounds of direct materials into process. Of the total, 1,120 pounds were strawberries, and the remaining 480 pounds were raspberries. The actual yield was 1,300 pounds. Calculate the standard mix...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.35 per micron Direct labor: 1.3 hours per toy at $6.70 per hour During July, the company produced 5,300 Maze toys. Production data for the month on the toy follow: Direct materials: 76,000 microns were purchased at a cost of $0.34...
Townsend Toys, Ltd., produces a toy called the Puzzler. The company has recently established a standard...
Townsend Toys, Ltd., produces a toy called the Puzzler. The company has recently established a standard cost system to help control costs and has established the following standards for the Puzzler toy: Direct materials: 6 microns per toy at $0.33 per micron Direct labor: 1.3 hours per toy at $7.30 per hour During July, the company produced 5,300 Puzzler toys. The toy's production data for the month are as follows: Direct materials: 71,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.34 per micron Direct labor: 1.2 hours per toy at $7.40 per hour During July, the company produced 4,800 Maze toys. The toy's production data for the month are as follows: Direct materials: 79,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.31 per micron Direct labor: 1.2 hours per toy at $7.20 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows: Direct materials: 76,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.32 per micron Direct labor: 1.4 hours per toy at $7.30 per hour During July, the company produced 5,300 Maze toys. The toy's production data for the month are as follows: Direct materials: 71,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 8 microns per toy at $0.33 per micron Direct labor: 1.5 hours per toy at $6.50 per hour During July, the company produced 5,000 Maze toys. The toy's production data for the month are as follows: Direct materials: 78,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.35 per micron Direct labor: 1.2 hours per toy at $7.40 per hour During July, the company produced 4,800 Maze toys. The toy's production data for the month are as follows: Direct materials: 74,000 microns were purchased at a cost of...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT