Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard material is 0.97 ounces per seed packet at a cost of $0.82 per ounce. Johnson Co. budgeted to make 65,000 seed packets but due to high demand, they ended up making 68,000 packets. They paid $42,000 for 60,000 ounces of seed and used all but 5,000 ounces of this purchase in production during the period. What is their material efficiency variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs. Your Answer: Answer Z

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. The
standard material is 0.97 ounces per seed packet at a cost of $0.82 per ounce. Johnson Co.
budgeted to make 65,000 seed packets but due to high demand, they ended up making 68,000
packets. They paid $42,000 for 60,000 ounces of seed and used all but 5,000 ounces of this
purchase in production during the period.
What is their material efficiency variance for this period? Enter a favorable variance is a positive
number and an unfavorable variance as a negative number.
Enter as a whole number, no commas and no dollar signs.
Your Answer:
Answer
Z
Transcribed Image Text:Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard material is 0.97 ounces per seed packet at a cost of $0.82 per ounce. Johnson Co. budgeted to make 65,000 seed packets but due to high demand, they ended up making 68,000 packets. They paid $42,000 for 60,000 ounces of seed and used all but 5,000 ounces of this purchase in production during the period. What is their material efficiency variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs. Your Answer: Answer Z
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