CTRL + TO CLEAR ANY BLUR Calculating the Yield Variance Mangia Pizza Company makes...

70.2K

Verified Solution

Question

Accounting

imageCTRL + TO CLEAR ANY BLUR

Calculating the Yield Variance Mangia Pizza Company makes frozen pizzas that are sold through grocery stores. Mangia developed the following standard mix for spreading on premade pizza shells to produce 17 giant-size sausage pizzas. Direct Material Mix Mix Proportion SP Standard Cost Tomato sauce 10 lbs. 0.335 $1.40 $14.00 Cheese 11 0.375 2.90 31.90 Sausage 9 0.290 2.00 18.00 Total 30 lbs. $63.90 Mangia put a batch of 2,000 pounds of direct materials (enough for 1,133 frozen sausage pizzas) into process. Of the total, 600 pounds were tomato sauce, 820 pounds were cheese, and the remaining 580 pounds were sausage. The actual yield was 770 pizzas. Required: 1. Calculate the yield ratio based on the standard amounts given. If required, round your answer to two decimal places. 0.57 2. Calculate the standard cost per pound of the yield. If required, round your answer to the nearest cent. 3.76 per pizza 3. Calculate the standard yield for actual input of 2,000 pounds of direct materials. Do not round intermediate calculations. Round your final answer to nearest whole number. 1,133 pizzas 4. Calculate the yield variance. Do not round intermediate calculations, except for number of pizzas which should be rounded to nearest whole number. If required, round your final answer to the nearest cent. 1,365 X Unfavorable 5. What if the total 2,000 pounds of direct materials put into process resulted in a yield of 1,158 pizzas? How would that affect the yield variance? The yield variance would be Favorable

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students