Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, All estimated the following standard costs for one of their major products, the 10- gallon plastic container. Budgeted quantity 0.9 pounds Budgeted price $60 per pound $20 per hour Direct materials Direct labor 0.25 hours During June, Heavy Products produced and sold 20,000 containers using 22,000 pounds of direct materials at an average cost per pound of $66 and 18,000 direct manufacturing labor - hours at an average wage of $20.50 per hour. The direct material price variance during June is O A. $372,000 favorable OB. $9,000 favorable O C. $372,000 unfavorable O D. $132,.000 unfavorable

Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, All estimated the following standard costs for one of their major products, the 10- gallon plastic container. Budgeted quantity 0.9 pounds Budgeted price $60 per pound $20 per hour Direct materials Direct labor 0.25 hours During June, Heavy Products produced and sold 20,000 containers using 22,000 pounds of direct materials at an average cost per pound of $66 and 18,000 direct manufacturing labor - hours at an average wage of $20.50 per hour. The direct material price variance during June is O A. $372,000 favorable OB. $9,000 favorable O C. $372,000 unfavorable O D. $132,.000 unfavorable

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Description: Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, All estimated the following standard costsfor one of their major products, the 10-gallon plastic container.Budgeted quantity.0.9 poundsBudgeted price$60 per

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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