Business, 21.05.2020 01:59 miajacobs110

Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor.
In 2015, GII estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container.
Budgeted quantity Budgeted price
Direct materials 0.30 pounds $20 per pound
Direct labor 0.20 hours $12 per hour
During July, GII produced and sold 3, 000 containers using 1.000 pounds of direct materials at an average cost per pound of $19 and 625 direct manufacturing labor hours at an average wage of $11.75 per hour.
1. The direct material price variance during July is .
a. $1,100 unfavorable
b. $1,100 favorable
c. $1,000 unfavorable
d. $2,000 unfavorable
2. The direct material efficiency variance during July is .
a. $ 1,000 unfavorable
b. $1,100 favorable
c. $2,000 unfavorable
d. $1,000 favorable
3. The direct manufacturing labor price variance during July is _.
a. $375.00 unfavorable
b. $156.25 favorable
c. $243.75 favorable
d. $ 1, 000 unfavorable
4. The direct manufacturing labor efficiency variance during July is .
a. $300.00 unfavorable
b. $156.25 favorable
c. $143.75 favorable
d. $131.75 unfavorable

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Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor.
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