Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GIl estimated the following standard costs for one of their

image text in transcribed

Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GIl estimated the following standard costs for one of their major products, the 30 - gallon heavy-duty plastic container. Direct materials Direct labor Budgeted quantity 0.8 pounds 0.5 hours Budgeted price $30 per pound $13 per hour During July, GIl produced and sold 4,000 containers using 3,400 pounds of direct materials at an average cost per pound of $28 and 2,050 direct manufacturing labor hours at an average wage of $13.50 per hour. The direct manufacturing labor price variance during July is O A. $1,025.00 unfavorable O B. $1,000.00 favorable O C. $800.00 unfavorable OD. $650.00 unfavorable

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions