Production of each unit of 001 requires 8 lbs. of B at a cost of P9 per lb. and 4 lbs. of X at P11.20 per lb. However, for production of 1,000 units of 001 10,000 lbs. were used, 75% of which was for material B at a cost of P8 per lb. for B and P9 per lb. for X. What is the material price, mix, and yield and quantity variance?
Production of each unit of 001 requires 8 lbs. of B at a cost of P9 per lb. and 4 lbs. of X at P11.20 per lb. However, for production of 1,000 units of 001 10,000 lbs. were used, 75% of which was for material B at a cost of P8 per lb. for B and P9 per lb. for X. What is the material price, mix, and yield and quantity variance?
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 1BE: Direct materials variances Bellingham Company produces a product that requires 2.5 standard pounds...
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Production of each unit of 001 requires 8 lbs. of B at a cost of P9 per lb. and 4 lbs. of X at P11.20 per lb. However, for production of 1,000 units of 001 10,000 lbs. were used, 75% of which was for material B at a cost of P8 per lb. for B and P9 per lb. for X. What is the material price, mix, and yield and quantity variance?
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