Heavy Products, Inc. developed standard costs for direct mat 2017, All estimated the following standard costs for one of their major products, the 10-gallon plastic container. Budgeted quantity Budgeted price $100 per pound Direct materials 0.8 pounds 0.1 hours Direct labor $20 per hour During June, Heavy Products produced and sold 23,000 containers using 19,000 pounds of direct materials at an average cost per pound of $102 and 18,400 direct manufacturing labor-hours at an average wage of $21.00 per hour. June's direct material flexible-budget variance is $38,000 favorable $98,000 unfavorable O $46,000 unfavorable O $18,400 favorable

Heavy Products, Inc. developed standard costs for direct mat 2017, All estimated the following standard costs for one of their major products, the 10-gallon plastic container. Budgeted quantity Budgeted price $100 per pound Direct materials 0.8 pounds 0.1 hours Direct labor $20 per hour During June, Heavy Products produced and sold 23,000 containers using 19,000 pounds of direct materials at an average cost per pound of $102 and 18,400 direct manufacturing labor-hours at an average wage of $21.00 per hour. June's direct material flexible-budget variance is $38,000 favorable $98,000 unfavorable O $46,000 unfavorable O $18,400 favorable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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