John's Weed-B-Gone yard service sprays lawns to rid them of weeds. John mixes the two chemicals, Weed-X and Pest-O, in proportions depending on the climate and the particular weed problems of the season. A standard mix calls for a gallon of the mixtur to combine equal parts of Weed-X and Pest-o. Weed-X has a standard cost of $10.00 per gallon and Pesto-O has a standard cost of $24.80 per gallon. Each gallon can treat 100 square yards of lawn. John expects to treat 534,000 square yards of lawn. For the past season, John treated 649,000 square yards. He used 4,200 gallons of Weed-X and 4,000 gallons of Pest-O. He paid a total of $35,000 for the Weed-X and $97,200 for the Pest-O. Required: a. Compute the materials price and efficiency variances for the season. b. Compute the materials mlx and yield variances for the season.

John's Weed-B-Gone yard service sprays lawns to rid them of weeds. John mixes the two chemicals, Weed-X and Pest-O, in proportions depending on the climate and the particular weed problems of the season. A standard mix calls for a gallon of the mixtur to combine equal parts of Weed-X and Pest-o. Weed-X has a standard cost of $10.00 per gallon and Pesto-O has a standard cost of $24.80 per gallon. Each gallon can treat 100 square yards of lawn. John expects to treat 534,000 square yards of lawn. For the past season, John treated 649,000 square yards. He used 4,200 gallons of Weed-X and 4,000 gallons of Pest-O. He paid a total of $35,000 for the Weed-X and $97,200 for the Pest-O. Required: a. Compute the materials price and efficiency variances for the season. b. Compute the materials mlx and yield variances for the season.

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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