None Direct Materials Mix and Yield VariancesChypre, Inc., produces a cologne mist using a solvent mix (water and pure alcohol) and aromatic compounds (the scent base) that it sells to other companies for bottling and sale to consumers. Chypre developed the following standard cost sheet:Direct MaterialMixMix ProportionStandard CostSPSolvent mix855 gallons0.95$5.4Aromatic compounds450.058010.00Total900 gallonsYield837 gallonsOn May 2, Chypre produced a batch of 1,300 gallons with the following actual results:Direct MaterialSolvent mixActual Mix1,231.1 gallonsAromatic compoundsTotal68.91,300 gallons$4617.00360450.00$365,067YieldRequired:1,170 gallonsInstructions for parts 3 and 4: If a variance is zero, enter "0" and select "Not applicable" from the drop down box.1. Calculate the yield ratio. If required, round your answer to two decimal places.2. Calculate the standard cost per unit of the yield. If required, round your answer to the nearest cent.per unit of the yield3. Calculate the direct materials yield variance. If required, round your answer to the nearest cent.4. Calculate the direct materials mix variance. If required, round your answer to the nearest cent.

1.) Calculation of yield ratio:-Yield ratio = Yield/Total direct materials =…

, Inc., produces a cologne mist using a solvent mix (water and pure alcohol) and aromatic compounds (the scent base) that it sells to other companies for bottling and sale to consumers. Chypre developed the following standard cost sheet: Material Mix Mix Proportion Standard Cost t mix 855 gallons SP 0.95 $5.4 tic compounds 45 0.05 8010.00 900 gallons 837 gallons $4617.00 360450.00 $365,067 y 2, Chypre produced a batch of 1,300 gallons with the following actual results: Material t mix tic compounds Actual Mix 1,231.1 gallons 68.9 1,300 gallons 1,170 gallons red: actions for parts 3 and 4: If a variance is zero, enter "0" and select "Not applicable" from the drop down box. culate the yield ratio. If required, round your answer to two decimal places. culate the standard cost per unit of the yield. If required, round your answer to the nearest cent. per unit of the yield culate the direct materials yield variance. If required, round your answer to the nearest cent. culate the direct materials mix variance. If required, round your answer to the nearest cent.

, Inc., produces a cologne mist using a solvent mix (water and pure alcohol) and aromatic compounds (the scent base) that it sells to other companies for bottling and sale to consumers. Chypre developed the following standard cost sheet: Material Mix Mix Proportion Standard Cost t mix 855 gallons SP 0.95 $5.4 tic compounds 45 0.05 8010.00 900 gallons 837 gallons $4617.00 360450.00 $365,067 y 2, Chypre produced a batch of 1,300 gallons with the following actual results: Material t mix tic compounds Actual Mix 1,231.1 gallons 68.9 1,300 gallons 1,170 gallons red: actions for parts 3 and 4: If a variance is zero, enter "0" and select "Not applicable" from the drop down box. culate the yield ratio. If required, round your answer to two decimal places. culate the standard cost per unit of the yield. If required, round your answer to the nearest cent. per unit of the yield culate the direct materials yield variance. If required, round your answer to the nearest cent. culate the direct materials mix variance. If required, round your answer to the nearest cent.

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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