Glassworks makes products for the sandblasting industry. One of the products they make is bags of high-grade sandblasting media that is made from a combination of quartz-sand and recycled ground-glass (cullet). Standard costs and quantities to produce one bag of sandblasting media are as follows: Cost $4.00 Quartz-sand Quantity 20 kg Cullet 5 kg $3.00 80,000 bags of sandblasting media were produced. Actual purchases and inventories were: Purchases (in $) $322,161 $286,000 Beginning Inventory 0 kg 0 kg Ending Inventory Quartz-sand Cullet Required: Calculate the following variances: a)Total direct material efficiency variance. b)Total direct material mix variance. c) Total direct material yield variance. 0 kg 120,000 kg Purchases (in kg) 1,610,000 kg 550,000 kg
Glassworks makes products for the sandblasting industry. One of the products they make is bags of high-grade sandblasting media that is made from a combination of quartz-sand and recycled ground-glass (cullet). Standard costs and quantities to produce one bag of sandblasting media are as follows: Cost $4.00 Quartz-sand Quantity 20 kg Cullet 5 kg $3.00 80,000 bags of sandblasting media were produced. Actual purchases and inventories were: Purchases (in $) $322,161 $286,000 Beginning Inventory 0 kg 0 kg Ending Inventory Quartz-sand Cullet Required: Calculate the following variances: a)Total direct material efficiency variance. b)Total direct material mix variance. c) Total direct material yield variance. 0 kg 120,000 kg Purchases (in kg) 1,610,000 kg 550,000 kg
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Glassworks makes products for the sandblasting industry. One of the products they make is bags of high-grade sandblasting media that
is made from a combination of quartz-sand and recycled ground-glass (cullet). Standard costs and quantities to produce one bag of
sandblasting media are as follows:
Cost
Quantity
Quartz-sand
20 kg
Cullet
5 kg
$3.00
80,000 bags of sandblasting media were produced. Actual purchases and inventories were:
Purchases
Purchases
(in kg)
(in $)
1,610,000 kg
$322,161
550,000 kg $286,000
Beginning
Inventory
$4.00
0 kg
0 kg
Ending
Inventory
Quartz-sand
Cullet
Required:
Calculate the following variances:
a)Total direct material efficiency variance.
b)Total direct material mix variance.
c) Total direct material yield variance.
0 kg
120,000 kg
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