Question
Questions 4-6 are based on the following: Greer Corp provides the following standard cost data: Standard quantity Standard price Direct materials 20 lbs. $16 Direct
Questions 4-6 are based on the following: Greer Corp provides the following standard cost data:
| Standard quantity | Standard price |
Direct materials | 20 lbs. | $16 |
Direct labor | 24 hours | $40 |
Actual performance was as follows: Greer used 39,000 lbs. of direct material, which it purchased at $17 per lb. It used 49,000 hours of labor, paying them $39.50 an hour. Greer produced 2,000 units of output.
Q1, The direct labor price variance is
Group of answer choices
$40,000 Unfavorable
$15,500 Favorable
$39,000 Unfavorable
$24,500 Favorable
Q2.
The direct labor efficiency variance is
Group of answer choices
$40,000 Unfavorable
$15,000 Unfavorable
$16,000 Favorable
$24,500 Favorable
Q3.
The direct material flexible budget variance is
Group of answer choices
$23,000 favorable
$39,000 Unfavorable
$23,000 Unfavorable
$16,000 Favorable
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