Question
Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, AII estimated the following standard costs for one of their major
Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, AII estimated the following standard costs for one of their major products, the 10gallon plastic container. Budgeted quantity Budgeted price Direct materials 0.3 pounds $90 per pound Direct labor 0.1 hours $15 per hour During June, Heavy Products produced and sold 23,000 containers using 2,300 pounds of direct materials at an average cost per pound of $96 and 2,300 direct manufacturing laborhours at an average wage of $91.56 per hour. The direct manufacturing labor efficiency variance during June is ________.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started