Cenent 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$20 per poundDirect materials0.40 poundsDirect labor0.80 hours$15 per hourDuring July, Gl produced and sold 4,000 containers using 1,700 pounds of direct materials at an average cost per pound of $15 and 3,225 direct manufacturing labor hours at an average wage of $15.25 per hour.The direct material price variance during July isOA $2,000 unfavorableOB. $20,000 unfavorableOC. $8,500 unfavorableO D. S8,500 favorableCalculatorNextMacBook Proesc)%234.7.8deleteYUDFHK%#3

Name: Cenent Industries, Inc. (GII), developed standard costs for direct ma
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Description: Cenent 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

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industhes, thc. (Gi), developed standard Costs for dired Gll estimated thế föllowing ständard costs för öne of their major products, the 30- gallon heavy-duty plastic container. Budgeted quantity 0.40 pounds 0.80 hours Budgeted price $20 per pound $15 per hour irect materials Direct labor During July, Gll produced and sold 4,000 containers using 1,700 pounds of direct materials at an average cost per pound of $15 and 3,225 direct manufacturing labor hours at an average wage of $15.25 per hour. The direct material price variance during July is OA S2.000 untavorable OB. $20,000 unfavorable OC S8,500 untavorable D. S8,500 favorable

industhes, thc. (Gi), developed standard Costs for dired Gll estimated thế föllowing ständard costs för öne of their major products, the 30- gallon heavy-duty plastic container. Budgeted quantity 0.40 pounds 0.80 hours Budgeted price $20 per pound $15 per hour irect materials Direct labor During July, Gll produced and sold 4,000 containers using 1,700 pounds of direct materials at an average cost per pound of $15 and 3,225 direct manufacturing labor hours at an average wage of $15.25 per hour. The direct material price variance during July is OA S2.000 untavorable OB. $20,000 unfavorable OC S8,500 untavorable D. S8,500 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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