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Author Question: Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In ... (Read 20 times)

rosent76

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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 materials0.20 pounds$40 per pound
Direct labor0.10 hours$18 per hour

During July, GII produced and sold 4,000 containers using 1,000 pounds of direct materials at an average cost per pound of $37 and 475 direct manufacturing labor hours at an average wage of $18.75 per hour.

The direct material efficiency variance during July is ________.
◦ $5,000 unfavorable
◦ $7,400 favorable
◦ $8,000 unfavorable
◦ $5,000 favorable


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Marked as best answer by rosent76 on Mar 6, 2021

kbennett34

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rosent76

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


diana chang

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

 

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