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Colson Products makes NOTAM, a new health food. For a 50- pound batch, the standard costs for materials and labor are as follows:
Quantity
Unit Price
Total
Wheat
25 pounds
$0.20 per pound
$5.00
Barley
$0.10 per pound
2.50
Corn
10 pounds
$0.05 per pound
0.50
Skilled labor
0.8 hours
$12.00 per hour
9.60
Unskilled labor
0.2 hours
$ 8.00 per hour
1.60
During June, the following materials and labor were used in producing 600 batches of NOTAM:
18,000 pounds at $0.22 per pound
14,000 pounds at $0.11 per pound
10,000 pounds at $0.04 per pound
400 hours at $12.25 per hour
260 hours at $8.00 per hour
a. Calculate the material quantity, mix, and yield variances.
b. Calculate the labor efficiency, mix, and yield variances.
calculation of physical units and equivalent units for materials and conversion costs given work-in-process data at
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