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(1) Determine the mix variance and the yield variance.

(1) Determine the mix variance and the yield variance.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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7. XYZ Co. uses two types of materials in the production. The following standards were developed: Material M1 M2 Yield Material M1 M2 Standard Mix Standard Unit Price 2 units $20 per unit 3 units 12 per unit Yield 25 units During January, the following actual production information was provided: Actual Mix 22,000 units 43,000 units 320,000 units Required: (1) Determine the mix variance and the yield variance. (2) Determine the MUV. Standard Cost $40 $36
Transcribed Image Text:7. XYZ Co. uses two types of materials in the production. The following standards were developed: Material M1 M2 Yield Material M1 M2 Standard Mix Standard Unit Price 2 units $20 per unit 3 units 12 per unit Yield 25 units During January, the following actual production information was provided: Actual Mix 22,000 units 43,000 units 320,000 units Required: (1) Determine the mix variance and the yield variance. (2) Determine the MUV. Standard Cost $40 $36
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