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Joven Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unit quantity of 0.50 ounce of plastic per bottle. During the month of
Joven Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unit quantity of 0.50 ounce of plastic per bottle. During the month of June, 360,000 bottles were produced using 185,000 ounces of plastic. The actual cost of plastic was $0.045 per ounce, and the standard price was $0.048 per ounce. There is no beginning or ending inventories of plastic. Required : Calculate the total variance for plastic for the month of June. Enter the amount as a positive number and select Favorable or Unfavorable.
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