10 Timted Co manufactures the paul by mixing three materials. The standard material quantity and material cost per unit of the paul are as follows: A B C Material W Material X Material Y D 10 kg @ $4.00 20 kg @ $5.00 30 kg @ $2.00 In January 6,000 units of the paul were produced. The total material usage was 351,000 kg. The material usage variance for January was $26,000 favourable. What was the material mix variance for January? $4,000 adverse $4,000 favourable $17,000 favourable $30,000 favourable $ 40 100 60 200

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.