The Following Information Is Provided About Three Materials Utilized in the Production

Essay

The following information is provided about three materials utilized in the production of a product: $\begin{array} { l r r r } \text { Material } & \text { Standard Mix } & \text { Standard Unit Price } & \text { Standard Cost } \\ \text { X } & 2,500 \text { units } & \$ 3.00 \text { per unit } & \$ 7,500 \\ Y & 1,500 \text { units } & 5.00 \text { per unit } & \$ 7,500 \\ Z & 1,000 \text { units } & 4.00 \text { per unit } & \$ 4,000 \end{array}$
Yiel d 4,500 units
During May, the following actual production in formati on was provided:
$\begin{array}{lr}\text { Material } & \text { Actual Mix } \\X & 20,000 \text { units } \\Y & 10,000 \text { units } \\Z & 5,000 \text { units }\end{array}$
Yield 30,000 units
Required:
Calculate the materials mix and yield variances.