Business, 01.08.2020 21:01 youngsunc02

Genent 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 quantity Budgeted price Direct materials 0.3 pounds $20 per pound Direct labor 0.7 hours $20 per hour During July, GII produced and sold 4,000 containers using 1,500 pounds of direct materials at an average cost per pound of $17 and 2,875 direct manufacturing labor hours at an average wage of $20.50 per hour. July's direct material flexible−budget variance is .

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Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 201...

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