Materials Mix Variance 2. Materials Yield Variance
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Q: COMPUTE FOR THE MATERIALS MIX VARIANCE COMPUTE FOR THE MATERIALS YIELD VARIANCE
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Q: MATERIALS YIELD VARIANCE
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Q: Compute for the Materials Mix Variance 2) Compute for the Materials Yield Variance
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A:
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.
Bottlers Inc, a leading softdrinks company is producing their bottle requirements. For each case of 24 eight-ounce bottles, the company prescribed the following standard product mix:
Material A @ 2.4lb, P50/lbs
Material B @ 6lb, P22/lbs
Material C @ 1.6lb, P15/lb
During the month of August, 25,000 cases were produced from an input of:
| Material | Pounds | Cost/lb |
| A | 63,700 | P49.00 |
| B | 125,200 | 20.50 |
| C | 48,100 | 16.00 |
Compute for the following:
1. Materials Mix Variance
2. Materials Yield Variance
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- Marina Bottlers Inc., a leading softdrinks company is producing their bottle requirements. For each case of 24 eight-ounce bottles, the company prescribed the following standard product mix: Material A @ 2.4 lbs., P50/lb Material B @ 6 lbs., P22/lb Material C @ 1.6 lbs., P15/lb During the month of August, 25,000 cases were produced from an input of: Material Pounds Cost/lb A 63,700 P49.00 B 125,200 20.50 C 48,100 16.00 Required: 1. Materials Mix Variance 2. Materials Yield VarianceSarsi Bottlers Inc, a leading softdrinks company is producing their bottle requirements. For each case of 24 eight-ounce bottles, the company prescribed the following standard product mix: Material A @ 2.4 lb, P50/lbs; Material B @ 6 lb, P22/lbs and Material C @ 1.6 lbs, P15/lb. During the month of August, 25,000 cases were produced from an input of: Material Pounds Cost/lb A 63,700 49 B 125,200 20.50 C 48,100 16 a. COMPUTE FOR THE MATERIALS MIX VARIANCE b. COMPUTE FOR THE MATERIALS YIELD VARIANCEMARINA Bottlers Inc, a leading softdrinks company is producing their bottle requirements. For each case of 24 eight-ounce bottles, the company prescribed the following standard product mix: Material A @2.4 lb, P50/lbs; Material B @6 lb, P22/lbs and Material C @1.6 lbs, P15/lb. During the month of August, 25,000 cases were produced from an input of: Material Pounds Cost/lb A 63,700 P49.00 B 125,200 20.50 C 48,100 16.00 Required: COMPUTE FOR THE MATERIALS MIX VARIANCE COMPUTE FOR THE MATERIALS YIELD VARIANCE
- MARINA Bottlers Inc, a leading softdrinks company is producing their bottle requirements. For each case of 24 eight-ounce bottles, the company prescribed the following standard product mix: Material A @ 2.4 lb, P50/Ibs; Material B @ 6 lb, P22/lbs and Material C @ 1.6 Ibs, P15/lb. During the month of August, 25,000 cases were produced from an input of: Material Pounds Cost/Lb A 63,700 49.00 B 125,200 20.50 C 48,100 16.00 REQUIREMENTS: PLEASE SHOW YOUR SOLUTION IN GOOD ACCOUNTING FORM THANK YOU! 1) Compute for the Materials Mix Variance2) Compute for the Materials Yield VarianceMARINA Bottlers Inc, a leading softdrinks company is producing their bottle requirements. For each case eight-ounce bottles, the company prescribed the followi tandard product mix: Material A @ 2.4 lb, P50/lbs, Material @6lb, P22/lbs and Material C@ 1.6 lbs, P15/lb. During the month of August, 25,000 cases were produced from an input of: pounds Cost/lb A 63,700 P49.00 B 125,200 20.50 C 48,100 16.00 COMPUTE FOR THE MATERIALS MIX VARIANCE COMPUTE FOR THE MATERIALS YIELD VARIANCEmarina bottlers in, a leading softdrinks company is producing their bottle requirements. for eachcase of 24 eight-ounce bottles, the company prescribed the following standard product mix: Material A @ 2.4 lb , P50/lbs; Material B @ 6lb, P22/lbs and Material C @1.6 lbs, P15/lb. During the month of August, 25,000 cases were produced from an output of: Material Pound cost/lb A 63,700 P49.00 B 125,200 20.50 C 48,100 16.00 1. COMPUTE FOR THE MATERIALS MIX VARIANCE 2. COMPUTE FOR THE MATERIALS YIELD VARIANCE
- MARINA Bottlers Inc, a leading soft drinks company is producing their bottle requirements. For each case of 34 eight-ounce bottles, the company prescribed the following standard product mix: Material A @ 2.4 lb, P50/bs; Material B @6lb, P22/lbs and Material C @1.6 lbs, P15/lb. During the month of August, 25,000 cases were produced from an input of: Material Pounds Cost/lb A 63,700 P49.00 B 125,200 20.50 C 48,100 16.00 REQUIRED: COMPUTE FOR THE MATERIALS MIX VARIANCE COMPUTE FOR THE MATERIALS YIELD VARIANCEYoung Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unitquantity of 0.45 ounce of plastic per bottle. During the month of June, 240,000 bottleswere produced using 110,000 ounces of plastic. The actual cost of plastic was $0.042 perounce, and the standard price was $0.045 per ounce. There is no beginning or ending inventories of plastic. Refer to the information for Young Inc. above.Required:Calculate the materials price and usage variances using the columnar and formula approaches.Use the following information to complete Brief Exercises 10-36 and 10-37:Ambient Inc. produces aluminum cans. Each can has a standard labor requirement of 0.03hour. During the month of May, 500,000 cans were produced using 14,000 labor hours @$15.00. The standard wage rate is $14.50 per hour.Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: At the beginning of March, Salisburys management planned to produce 500,000 bottles. The actual number of bottles produced for March was 525,000 bottles. The actual costs for March of the current year were as follows: a. Prepare the March manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for Salisbury, assuming planned production. b. Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for March. c. Interpret the budget performance report.
- Beverage Drink Company processes direct materials up to the split - off point where two products, A and B, are obtained. The following information was collected for the month of July: Direct materials processed: 3,000 liters (with 25% shrinkage) Production: A 1,800 liters 450 liters Sales: А $15 per liter B $10 per liter The cost of purchasing 3,000 liters of direct materials and processing it up to the split- off point to yield a total of 2,250 liters of good products was $9,500. There were no inventory balances of A and B. Product A may be processed further to yield 1,700 liters of Product Z5 for an additional processing cost of $190. Product Z5 is sold for $70 per liter. There was no beginning inventory and ending inventory was 125 liters. Product B may be processed further to yield 350 liters of Product W3 for an additional processing cost of $320. Product W3 is sold for $75 per liter. There was no beginning inventory and ending inventory was 25 liters. If Product Z5 and Product W3…Genuine Spice Inc. began operations on January 1 of the current year. The company produces eight- ounce bottles of hand and body lotion called Eternal Beauty. The lotion is sold wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows:DIRECT MATERIALSCost Behavior Units per Case Cost per Unit Cost per CaseCream base Variable 100 oz. $0.02 $ 2.00Natural oils Variable 30 oz. 0.30 9.00Bottle (8-oz.) Variable 12 bottles 0.50 6.00$17.00DIRECT LABORDepartment Cost Behavior Time per Case Labor Rate per Hour Cost per CaseMixing Variable 20 min. $18.00 $6.00Filling Variable 5 14.40 1.2025 min. $7.20FACTORY OVERHEADCost Behavior Total CostUtilities Mixed $600Facility lease Fixed 14,000Equipment depreciation Fixed 4,300Supplies Fixed 660$19,560Part A—Break-Even AnalysisThe management of Genuine Spice Inc. wants to determine the number of cases required to break even per…Beverage Drink Company processes direct materials up to the splitoff point where two products, A and B, are obtained. The following information was collected for the month of July: Direct materials processed: 2,500 liters (with 20% shrinkage) Production: A 1,500 liters B 500 liters Sales: A $15.00 per liter B $10.00 per liter The cost of purchasing 2,500 liters of direct materials and processing it up to the splitoff point to yield a total of 2,000 liters of good products was $4,500. There were no inventory balances of A and B. Product A may be processed further to yield 1,375 liters of Product Z5 for an additional processing cost of $150. Product Z5 is sold for $25.00 per liter. There was no beginning inventory and ending inventory was 125 liters. Product B may be processed…