[amp_mcq option1=”Actual cost of actual mix” option2=”Actual cost of standard mix” option3=”Standard cost of actual mix” option4=”Standard cost of budgeted mix” correct=”option1″]<\/p>\n
The correct answer is: A. Actual cost of actual mix<\/strong><\/p>\n The material mix variance is the difference between the actual cost of the materials used in production and the standard cost of the materials that should have been used, based on the actual production mix.<\/p>\n The actual cost of the materials used in production is the actual price paid for the materials, multiplied by the actual quantity of materials used.<\/p>\n The standard cost of the materials that should have been used is the standard price per unit of material, multiplied by the standard quantity of materials that should have been used.<\/p>\n The standard quantity of materials that should have been used is based on the standard production mix, which is the mix of materials that is expected to be used in production.<\/p>\n The standard price per unit of material is the price that is expected to be paid for the materials.<\/p>\n The material mix variance can be caused by a number of factors, including:<\/p>\n The material mix variance can be a significant cost driver, and it is important to identify and control the factors that cause it.<\/p>\n Here is a brief explanation of each option:<\/p>\n [amp_mcq option1=”Actual cost of actual mix” option2=”Actual cost of standard mix” option3=”Standard cost of actual mix” option4=”Standard cost of budgeted mix” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-44030","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"\n\n
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