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.
$\begin{array}{lll}&\text { Budgeted quantity }&\text { Budgeted price }\
\text { Direct materials } & 0.30 \text { pounds } & \$ 20 \text { per pound } \
\text { Direct labor } & 0.20 \text { hours } & \$ 12 \text { per hour }
\end{array}$ 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.
-July's direct material flexible-budget variance is ________.

Question

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.
 $\begin{array}{lll}&\text { Budgeted quantity }&\text { Budgeted price }\
\text { Direct materials } & 0.30 \text { pounds } & \$ 20 \text { per pound } \
\text { Direct labor } & 0.20 \text { hours } & \$ 12 \text { per hour }
\end{array}$ 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.
-July's direct material flexible-budget variance is ________.

Quizplus · Accepted Answer

The Answer of 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.
 $\begin{array}{lll}&\text { Budgeted quantity }&\text { Budgeted price }\
\text { Direct materials } & 0.30 \text { pounds } & \$ 20 \text { per pound } \
\text { Direct labor } & 0.20 \text { hours } & \$ 12 \text { per hour }
\end{array}$ 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.
-July's direct material flexible-budget variance is ________.

Genent Industries, Inc During July, GII Produced and Sold 3,000 Containers Using 1,000