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, 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
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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Direct Materials Mix and Yield Variances Chypre, 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 Material Mix Mix Proportion Standard Cost SP Solvent mix 855 gallons 0.95 $5.4 Aromatic compounds 45 0.05 8010.00 Total 900 gallons Yield 837 gallons On May 2, Chypre produced a batch of 1,300 gallons with the following actual results: Direct Material Solvent mix Actual Mix 1,231.1 gallons Aromatic compounds Total 68.9 1,300 gallons $4617.00 360450.00 $365,067 Yield Required: 1,170 gallons Instructions 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 yield 3. 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.
Transcribed Image Text:Direct Materials Mix and Yield Variances Chypre, 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 Material Mix Mix Proportion Standard Cost SP Solvent mix 855 gallons 0.95 $5.4 Aromatic compounds 45 0.05 8010.00 Total 900 gallons Yield 837 gallons On May 2, Chypre produced a batch of 1,300 gallons with the following actual results: Direct Material Solvent mix Actual Mix 1,231.1 gallons Aromatic compounds Total 68.9 1,300 gallons $4617.00 360450.00 $365,067 Yield Required: 1,170 gallons Instructions 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 yield 3. 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.
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