CoursHeroTranscribedText: Heavy Products, Inc. (HPI) developed standard costs for direct material and direct labor. In...
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CoursHeroTranscribedText: Heavy Products, Inc. (HPI) developed standard costs for direct material and direct labor. In 2020, HPI estimated the following standard costs for one of their major products, the 10-gallon plastic list K container. Budgeted quantity Budgeted price Direct materials 0.1 pounds $50 per pound Direct labor 0.25 hours $15 per hour on 30 During June, Heavy Products produced and sold 18,000 containers using 2,200 pounds of direct materials at an average cost per pound of $55 and 1,800 direct manufacturing labor-hours at an average wage of $16.00 per hour. The direct material price variance during June is on 31 ion 32 O A. $11,000 unfavorable O B. $31,000 favorable tion 33 O c. $31,000 unfavorable O D. $1,800 favorable stion 34 stion 35
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