Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer the following questions using the information below: Animent Industries, Inc. (AII), developed standard costs for direct material and direct labor. In 2015, All estimated

image text in transcribed
Answer the following questions using the information below: Animent Industries, Inc. (AII), developed standard costs for direct material and direct labor. In 2015, All estimated the following standard costs for one of their major products, the 10 -gallon plastic container. Budgeted quantity. Budgeted price Direct materials 0.10 pounds $60 per pound Direct labor 0.05 hours $30 per hour During June, All produced and sold 20,000 containers using 1,900 pounds of direct materials at an average cost per pound of $64 and 1,000 direct manufacturing laborhours at an average wage of $30.50 per hour. The direct manufacturing labor price variance during June is $7,600 unfavorable $500 favorable $500 unfavorable 1,600 unfavorable none of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing

Authors: Alan H. Millichamp

8th Edition

082645500X, 9780826455000

More Books

Students also viewed these Accounting questions

Question

22.9. Develop a checklist for use during configuration audits.

Answered: 1 week ago

Question

How competitive is the external environment of your organization?

Answered: 1 week ago

Question

What other organizations compete on this issue?

Answered: 1 week ago

Question

What significant opposition exists?

Answered: 1 week ago