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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › question

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by John Moffat.
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    Posts
  • June 29, 2021 at 8:56 am #626574
    xyzc
    Participant
    • Topics: 361
    • Replies: 130
    • ☆☆☆

    The following cost information relates to product xy, which is manufactured in a continuous process from several different materials
    Actual quantity of materials at standard price 19960
    Actual quantity of materials at actual price 23120
    Actual yield at standard material cost 20800
    standard yield from actual input of materials at standard cost 19552
    What is the favourable materials yield variance for the period?
    The standard yield from standard input of materials at standard cost is not given, so how to calculate the materials yield variance from the above information
    Also how to calculate the materials mix variance from the above information

    June 29, 2021 at 10:14 am #626586
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51576
    • ☆☆☆☆☆

    The actual yield at standard cost is $20,800.
    The standard yield from the actual input at standard cost is $19,552.

    Therefore the mix variance is the difference of $1,248 (favourable)

    June 29, 2021 at 11:15 am #626590
    xyzc
    Participant
    • Topics: 361
    • Replies: 130
    • ☆☆☆

    Why the material mix variance is favourable. Should not it be adverse because the actual yield at standard cost is of 20800 is higher than the standard yield from the actual input at standard cost of 19552.
    The standard yield from standard input of materials at standard cost is not given, so how to calculate the materials yield variance from the above information

    June 29, 2021 at 4:52 pm #626617
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51576
    • ☆☆☆☆☆

    The actual yield is higher than the standard yield. Given that the standard yield assumes standard mix, and given they are both costed at standard cost. The difference must be the mix variance. and it is favourable because the actual is higher than the standard.

    (In future, please head up your threads with the topic, rather than just ‘question’. The reason is that our answers are for the benefit of everyones, and many people use the search box to find if their question has already been answered 🙂 )

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