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Genent Industries, Inc. (GII), developed standard costs for direct material. GII estimated the following standard costs for one unit of its product. Standard quantity Standard
Genent Industries, Inc. (GII), developed standard costs for direct material. GII estimated the following standard costs for one unit of its product.
Standard quantity Standard price
Direct materials 0.30 pounds $20 per pound
During July, GII produced 3,000 containers using 1,000 pounds of direct materials at an average cost per pound of $19.
The direct material quantity variance during July is ________.
$1,000 favorable | ||
$1,100 unfavorable | ||
$1,000 unfavorable | ||
$2,000 unfavorable | ||
$1,100 favorable |
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