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Agata [3.3K]
3 years ago
9

Genent​ Industries, Inc.​ (GII), developed standard costs for direct material and direct labor. In​ 2017, GII estimated the foll

owing standard costs for one of their major​ products, the 30minusgallon heavyminusduty plastic container. Budgeted quantity Budgeted price Direct materials 0.7 pounds $ 30 per pound Direct labor 0.8 hours $ 13 per hour During​ July, GII produced and sold 3 comma 000 containers using 2 comma 400 pounds of direct materials at an average cost per pound of $ 29 and 2 comma 490 direct manufacturing labor hours at an average wage of $ 13.50 per hour. ​July's direct material flexibleminusbudget variance is​ ________.
Business
1 answer:
Alex_Xolod [135]3 years ago
6 0

Answer:

The quantity variance = -900 unfavorable

Explanation:

Direct materials flexibel - budget variance:

standard

0.7 pounds $30 per pound

3,000 x 0.7 = 2,100 standard pounds

actual

2,400 pound $29 per pound

quantity variance:

30(2,100 - 2,400) = -900

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Answer:

Option Contract

Explanation:

According to the Laws Termination of the Power of Acceptance, there are four types of offer terms. These types are Counter Offer, Option Contract, Conditional or Qualified Acceptance, and Firm Offer. With these 4 types being the options, based on the description given in the question we can say that the one being described is an Optional Contract. Which as described in the question is a contract that is held open for a period of time in which it cannot be revoked.

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Which spreadsheet type will determine how well a business has done over the past year?
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<span>profit-and-loss statement</span>
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Answer:

The correct option is C states that creditors have a higher position in the priority of claims.

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3 years ago
What are some common motivations of financial statement fraud examination?
WINSTONCH [101]

Answer:

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Explanation:

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