Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2015, GII estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container.
Budgeted quantity | Budgeted price | |
Direct materials | 0.20 pounds | $10 per pound |
Direct labor | 0.60 hours | $14 per hour |
During July, GII produced and sold 3000 containers using 900 pounds of direct materials at an average cost per pound of $7 and 1890 direct manufacturing labor hours at an average wage of $13.50 per hour. The direct material efficiency variance during July is ________.
Direct material efficiency variance = (Standard qty-actual qty)Standard price
= (3000*.20-900)*10
Direct material efficiency variance = 3000 U
Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2015, GII...
Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2015, GII estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container. Budgeted quantity Budgeted price Direct materials 0.40 pound $50 per pound Direct labor 0.60 hours $14 per hour During July, GII produced and sold 3000 containers using 1500 pounds of direct materials at an average cost per pound of $48 and 1890 direct manufacturing labor hours at an...
Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2015, GII estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container. Budgeted quantity Budgeted price Direct materials 0.10 pounds $10 per pound Direct labor 0.80 hours $10 per hour During July, GII produced and sold 3000 containers using 450 pounds of direct materials at an average cost per pound of $6 and 2450 direct manufacturing labor hours at an...
Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2015, GII estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container. Budgeted quantity budgeted price Direct materials 0.50 pounds $50 per pound Direct labor 0.10 hours $18 per hour During July, GII produced and sold 3000 containers using 1650 pounds of direct materials at an average cost per pound of $46 and 380 direct manufacturing labor hours at an...
Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2015, GII estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container. Budgeted quantity Budgeted price Direct materials 0.70 pounds $50 per pound Direct labor 0.50 hours $13 per hour During July, GII produced and sold 3000 containers using 2350 pounds of direct materials at an average cost per pound of $49 and 1575 direct manufacturing labor hours at an...
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 quantity Budgeted Price Direct materials 0.5 pounds $20 per pound Direct labor 0.8 hours $11 per hour During July, GII produced and sold 3,000 containers using 1,700 pounds of direct materials at an average cost per pound of $18 and 2,450 direct manufacturing labor hours at an...
Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GIl estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container. Direct materials Direct labor Budgeted quantity. 0.4 pounds 0.5 hours Budgeted price $50 per pound $20 per hour During July, GIl produced and sold 4,000 containers using 1,850 pounds of direct materials at an average cost per pound of $48 and 2,090 direct manufacturing labor hours at an...
Genent Industries, Inc. (GlI), developed standard costs for direct material and direct labor. In 2017, Gll estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container. Budgeted quantity Budgeted price $50 per pound $19 per hour Direct materials 0.4 pounds Direct labor 0.8 hours During July, Gll produced and sold 3,000 containers using 1,450 pounds of direct materials at an average cost per pound of $45 and 2,480 direct manufacturing labor hours at an...
Animent Industries, Inc. (AII), developed standard costs for direct material and direct labor. In 2015, AII estimated the following standard costs for one of their major products, the 10-gallon plastic container. Budgeted quantity Budgeted price Direct materials 0.70 pounds $80 per pound Direct labor 0.05 hours $20 per hour During June, AII produced and sold 16,000 containers using 19,000 pounds of direct materials at an average cost per pound of $84 and 11,200 direct manufacturing labor-hours at an average wage...
Animent Industries, Inc. (AII), developed standard costs for direct material and direct labor. In 2015, AII estimated the following standard costs for one of their major products, the 10-gallon plastic container. Budgeted quantity Budgeted price Direct materials 0.10 pounds $100 per pound Direct labor 0.05 hours $35 per hour During June, AII produced and sold 17,000 containers using 2500 pounds of direct materials at an average cost per pound of $105 and 1700 direct manufacturing labor-hours at an average wage...
Animent Industries, Inc. (AII), developed standard costs for direct material and direct labor. In 2015, AII estimated the following standard costs for one of their major products, the 10-gallon plastic container. Budgeted quantity Budgeted price Direct materials 0.20 pounds $110 per pound Direct labor 0.15 hours $20 per hour During June, AII produced and sold 15,000 containers using 1000 pounds of direct materials at an average cost per pound of $103 and 2250 direct manufacturing labor-hours at an average wage...