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Direct Materials Usage Variance, Direct Materials Mix and Yield Variances Vet-Pro, Inc., produces...

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Accounting

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:
Direct Material Standard Mix Standard Unit Price Standard Cost
Aranol 2,800 gallons $6.00 per gallon $16,800
Lendyl 17,2008.00137,600
Total 20,000 gallons $154,400
Yield 16,000 gallons
During March, the following actual production information was provided:
Direct Material Actual Mix
Aranol 48,000 gallons
Lendyl 152,000
Total 200,000 gallons
Yield 164,000 gallons
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 $fill in the blank 1
Favorable
Yield variance $fill in the blank 3
Favorable
2. Compute the total direct materials usage variance for Aranol and Lendyl.
$fill in the blank 5

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