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Agata [3.3K]
2 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]2 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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During the current year, assets increased from $11,000 to $19,000, and liabilities decreased from $9,000 to $7,500. If no additi
garik1379 [7]

Answer:

$34,500

Explanation:

Calculation to determine total revenues for the year

Using this formula

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Let plug in the formula

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Therefore total revenues for the year is $34,500

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3 years ago
According to the diversification-for-stability argument, why should some nations impose protective tariffs and import quotas
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Their economies are highly specialized and depend on international trade for their income.

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1 year ago
Samuel K. Jenkins is thirty-five years old and lives in New Mexico. He would like to run for President. What else do we need to
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6 0
3 years ago
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GDP is $12 trillion this year in a closed economy. Consumption is $8 trillion and government spending is $2 trillion. Taxes are
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Answer:

$2 trillion

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2 years ago
Larger financial institutions now offer a wide range of services under one roof, from banking to stock trading. These institutio
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Answer:

The correct answer is E. Share of customer.

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