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Author Question: Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In ... (Read 64 times)

Chloeellawright

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on: Mar 6, 2021
Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GII estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container.

Budgeted quantityBudgeted price
Direct materials0.40 pounds$20 per pound
Direct labor0.80 hours$15 per hour

During July, GII produced and sold 4,000 containers using 1,700 pounds of direct materials at an average cost per pound of $15 and 3,225 direct manufacturing labor hours at an average wage of $15.25 per hour.

The direct material price variance during July is ________.
◦ $20,000 unfavorable
◦ $8,500 favorable
◦ $8,500 unfavorable
◦ $2,000 unfavorable
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by Chloeellawright on Mar 6, 2021

ecox1012

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Reply #1 on: Mar 6, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Chloeellawright

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Reply 2 on: Mar 6, 2021
Thanks for the timely response, appreciate it

laurnthompson

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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