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

Mollykgkg

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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 materials0.10 pounds$30 per pound
Direct labor0.30 hours$18 per hour

During July, GII produced and sold 4,000 containers using 600 pounds of direct materials at an average cost per pound of $26 and 1,290 direct manufacturing labor hours at an average wage of $18.40 per hour.

The direct manufacturing labor price variance during July is ________.
◦ $1,620.00 unfavorable
◦ $516.00 favorable
◦ $480.00 favorable
◦ $3,600.00 unfavorable
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by Mollykgkg on Mar 6, 2021

jasonq

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Reply #1 on: Mar 6, 2021
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Mollykgkg

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

sarah_brady415

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

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