Problem 9.34 (Algorithmic) Direct Materials Usage Variance, Direct Materials Mix and Yield Variances Vet-Pro, Inc., produces a veterinary grade anti-anxiety mixture for pets with behavioral problems. Two chemical solutions, Aranol and Lendyl, are mixed and heated to produce a chemical that is sold to companies that produce the anti-anxiety pills. The mixture is produced in batches and has the following standards: Standard Mix Direct Material Aranol Lendyl Total Standard Unit Price 3,000 gallons $5.00 per gallon 17,000 7.00 20,000 gallons 16,000 gallons Direct Material Aranol Lendyl Total Yield During March, the following actual production information was provided: Actual Mix 66,000 gallons 134,000 200,000 gallons 166,000 gallons Standard Cost Favorable $ Favorable 15,000 119,000 134,000 Yield Required: 1. Compute the direct materials mix and yield variances. In your computations, round the standard cost of the yield to 3 decimal places. Use rounded number in the subsequent computations. Mix variance $11340 Yield variance $ 10050 Favorable 2. Compute the total direct materials usage variance for Aranol and Lendyl. $

Problem 9.34 (Algorithmic) Direct Materials Usage Variance, Direct Materials Mix and Yield Variances Vet-Pro, Inc., produces a veterinary grade anti-anxiety mixture for pets with behavioral problems. Two chemical solutions, Aranol and Lendyl, are mixed and heated to produce a chemical that is sold to companies that produce the anti-anxiety pills. The mixture is produced in batches and has the following standards: Standard Mix Direct Material Aranol Lendyl Total Standard Unit Price 3,000 gallons $5.00 per gallon 17,000 7.00 20,000 gallons 16,000 gallons Direct Material Aranol Lendyl Total Yield During March, the following actual production information was provided: Actual Mix 66,000 gallons 134,000 200,000 gallons 166,000 gallons Standard Cost Favorable $ Favorable 15,000 119,000 134,000 Yield Required: 1. Compute the direct materials mix and yield variances. In your computations, round the standard cost of the yield to 3 decimal places. Use rounded number in the subsequent computations. Mix variance $11340 Yield variance $ 10050 Favorable 2. Compute the total direct materials usage variance for Aranol and Lendyl. $

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Description: N2. Problem 9.34 (Algorithmic)Direct Materials Usage Variance, Direct Materials Mix and Yield VariancesVet-Pro, Inc., produces a veterinary grade anti-anxiety mixture for pets with behavioral problems. Two chemical solutions, Aranol and Lendyl, are m

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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