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Stinkfly Company developed standard costs for direct material and direct labor. In 2017, Stinkfly estimated the following standard costs for one of their major products,
Stinkfly Company developed standard costs for direct material and direct labor. In 2017, Stinkfly estimated the following standard costs for one of their major products, the 30 -gallon heavy-duty plastic container. During July, Stinkfly produced and sold 4,000 containers using 1,700 pounds of direct materials at an average cost per pound of P15 and 3,225 direct manufacturing labor hours at an average wage of P15.25 per hour. The direct material price variance during July is
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