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Jackson Industries uses a standard cost system in which drect materials inventory is caried at standerd cost Jeckson has established the following standards for one
Jackson Industries uses a standard cost system in which drect materials inventory is caried at standerd cost Jeckson has established the following standards for one unit of product Direct materials... Direct labor. Standard Quantity 5 pounds 1.25 hours Standard Price or Rate $3.60 per pound $12.00 per hour Standard Cost $18.00 $15.00 Jackson purchased 125,000 pounds of direct matenal at a total cost of $4/5.000 The total factory wages for May were $364,000, 90 percent of which were for direct labor Jackson manfactured 22.000 The price variance for the direct material acquired by Jackson Industries during May s units of product during May using 108.000 pounds of direct materiel and 28.000 drect labor-hours O $21,600 Favorable O $25,000 Unfavorable $216:00 Unfavorable O $28000 Favorabie
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