A Proctor Cleaning Products manufactures a product using a process that allows for substitution between two materials, X-1 and Y-7. Thecompany has the following direct materials data for its product:Standard costs for one unit of output68 units of input at $1.0012 units of input at $4.60The following results were reported for January:X-1Y-7Units of output producedMaterials purchasedX-1Y-7Proctor has a policy of holding no inventories of any kind.Required:a. Compute materials price and efficiency variances.b. Compute materials mix and yield variances.Required A Required B18,200 unitsComplete this question by entering your answers in the tabs below.1,204,000 units at $1.02224,000 units at $4.551Materials price varianceMaterials efficiency varianceCompute materials price and efficiency variances.Note: Do not round intermediate calculations. Indicate the effect each variance by selecting "F" for favorable, or "U" forunfavorable. If there is no effect, do not select either option.X-1< Required AY-7Required B >Total

Name: A Proctor Cleaning Products manufactures a product using a process tha
Uploaded: 2024-03-20T06:33:06.000Z
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Description: A Proctor Cleaning Products manufactures a product using a process that allows for substitution between two materials, X-1 and Y-7. Thecompany has the following direct materials data for its product:Standard costs for one unit of output68 units of in

Variance analysis is the difference between the standard performance and the actual performance,…

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Proctor Cleaning Products manufactures a product using a process that allows for substitution between company has the following direct materials data for its product: Standard costs for one unit of output 68 units of input at $1.00 12 units of input at $4.60 The following results were reported for January: Units of output produced Materials purchased X-1 Y-7 X-1 Y-7 18,200 units 1,204,000 units at $1.02 224,000 units at $4.55