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

question 87

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 wet ingredients what are the material mix and yield variances respectively?

• A)$270 favourable/$180 unfavourable
• B)$240 unfavourable/$360 favourable
• C)$240 favourable/$360 unfavourable
• D)$360 favourable/$240 unfavourable
• E)$360 unfavourable/$240 favourable

Approach overly advantageous deals with cautious skepticism grounded in probability and expected value analysis.

Relate the concepts of risk, probability, and expected value in the context of decision-making under uncertainty.

Understand the concept of expected value and its application in decision-making.

Calculate expected gains or losses in various business and game scenarios.

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Definitions:

Beginning Work in Process

The value of goods that are in the production process at the start of an accounting period.

Ending Work in Process

The inventory that is still in the production process at the end of an accounting period, not yet ready for sale.

Total Units

The complete count of individual items or goods that are present in a given context or produced by a process.

Units Started

The number of units of production that have begun the manufacturing process within a period.