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Animent Industries, Inc. (AII), developed standard costs for direct material and direct labor. In 2015, AII...

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 of $21.56 per hour. June's direct material flexible-budget variance is ________

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Answer #1

Calculate direct material flexible budget variance

Flexible budget actual Flexible budget variance
Direct material 16000*.70*80 = 896000 19000*84 = 1596000 700000 U
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