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Can you guide me through on how to calculate the direct materials mix variance? ...

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Accounting

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Can you guide me through on how to calculate the direct materials mix variance?

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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 Solvent mix Aromatic compounds Mix Proportion 0.95 0.05 Standard Cost $4830.75 362250.00 367,080.75 Mix SP 855 gallons $5.65 45 900 gallons 837 gallons 8050.00 Total Yield On May 2, Chypre produced a batch of 1,200 gallons with the following actual results: Direct Material Solvent mix Aromatic compounds Actual Mix 1,134 gallons Total Yield Required Instructions for parts 3 and 4: If a variance is zero, enter "O" and select "Not applicable" from the drop down box. 1,200 gallons 1,075 gallons

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