Use the Information Below to Answer the Following Question(s)

question 68

Multiple Choice

Use the information below to answer the following question(s) .Jenny's Condiments makes a specialty mustard for street vendors that is composed of wet ingredients and dry ingredients.Two parts of wet ingredients at a standard cost of $12, and three parts of dry ingredients at a standard cost of $9, are required for every batch.In the first week of July, Jenny produced two hundred thirty batches of mustard using 450 units of wet ingredients and 750 units of dry ingredients.
-For the dry ingredients what are the material mix and yield variances respectively?

• A)$270 favourable/$270 unfavourable
• B)$360 unfavourable/$360 unfavourable
• C)$360 favourable/$360 unfavourable
• D)$360 favourable/$360 favourable
• E)$270 unfavourable/$270 unfavourable

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Definitions:

Book Value

The net value of a company's assets minus its liabilities, as shown on its balance sheet, often used to estimate the company's value.

Shares Outstanding

The total number of shares of a corporation's stock that are currently owned by all its shareholders, including share blocks held by institutional investors.

Premium

An amount paid for an insurance policy, reflecting the cost of carrying the insurance coverage.

Tender Offer

involves a company or individual making a public offer to purchase some or all of shareholders' shares in a corporation at a specified price for a certain period.