Wisteria Corporation Produces a Product Using the Following Standard Proportions

question 46

Essay

Wisteria Corporation produces a product using the following standard proportions and costs of material:

	Pounds	Cost Per Pound	Amount
Material A	50	$5.00	$250
Material B	40	6.00	240
Material C	60	3.00	180
	150	4.4667	$670
Standard shrinkage (33 1/3%)	50
Net weight and cost	100	6.70	$670

A recent production run yielding 100 output pounds required an input of:

	Amount	Cost Per Pound
Material A	40	$5.15
Material B	50	6.00
Material C	65	2.80

Required:Material price,mix,and yield variances.

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Definitions:

Economic Recovery

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The cost per barrel of crude oil as determined by global supply and demand dynamics, geopolitical stability, and production decisions of oil-producing nations.

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The percentage of the labor force that is jobless and actively seeking employment.

Reaganomics

The economic policies promoted by U.S. President Ronald Reagan during the 1980s, characterized by tax cuts, reduced social spending, increased military spending, and deregulation of domestic markets.