Question 1 A company makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard material is 0.75 ounces per seed packet at a cost of $0.81 per ounce. The company budgeted to make 65,000 seed packets but due to high demand, they ended up making 71,000 packets. They paid $42,000 for 60,000 ounces of seed and used all in production during the period. What is their material cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Question 2 A company makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard material is 0.80 ounces per seed packet at a cost of 50.70 per ounce. The company budgeted to make 65,000 seed packets but due to high demand, they ended up making 74,000 packets. They paid $42,000 for 60,000 ounces of seed and used all but 3,000 ounces of this purchase in production during the period. What is their material efficiency variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Question 3 A company makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard labor to count and assemble each packet is 0.14 hours at a cost of $16.75 per hour. The company, budgeted to make 65,000 seed packets but due to high demand, they ended up making 70,000 packets. They paid $316,008 for 18,480 hours of packet assembly time. What is their labor cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Question 1 A company makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard material is 0.75 ounces per seed packet at a cost of $0.81 per ounce. The company budgeted to make 65,000 seed packets but due to high demand, they ended up making 71,000 packets. They paid $42,000 for 60,000 ounces of seed and used all in production during the period. What is their material cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Question 2 A company makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard material is 0.80 ounces per seed packet at a cost of 50.70 per ounce. The company budgeted to make 65,000 seed packets but due to high demand, they ended up making 74,000 packets. They paid $42,000 for 60,000 ounces of seed and used all but 3,000 ounces of this purchase in production during the period. What is their material efficiency variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Question 3 A company makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard labor to count and assemble each packet is 0.14 hours at a cost of $16.75 per hour. The company, budgeted to make 65,000 seed packets but due to high demand, they ended up making 70,000 packets. They paid $316,008 for 18,480 hours of packet assembly time. What is their labor cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number
