Homework Answers
| Material mix variance is the differnece between the budgeted and actual mixes of material costs used in a production process. The variance is useful for determining whether a lower cost mix of materials can be used to create a product. | ||||||||
| Material mix variance = Standard price x [Revised standard quantity - Actual quantity] | ||||||||
| The difference between the Actual quantity in standard proportion and Actual quantity in actual proportion at standard price | ||||||||
| Revised standard quantity | ||||||||
| Material A = (550 kg / 510 kg) * 330 kg = 335.88 kg | ||||||||
| Material B = (550 kg / 510 kg) * 180 kg = 194.12 kg | ||||||||
| Material mix variance = Material A | ||||||||
| Material mix variance = Standard price x [Revised standard quantity - Actual quantity] | ||||||||
| Material mix variance = 100 dhs x [335.88 - 300] = 3588 (F) | ||||||||
| Material mix variance = Material B | ||||||||
| Material mix variance = Standard price x [Revised standard quantity - Actual quantity] | ||||||||
| Material mix variance = 200 dhs x [194.12 - 250] = 11176 (A) | ||||||||
| Material mix variance = 3588 (F) + 11176 (A) = 7588 (A) | ||||||||
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