Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017,...
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Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GIl estimated the following standard costs for one of their major products, the 30 - gallon heavy-duty plastic container. Direct materials Direct labor Budgeted quantity 0.5 pounds 0.2 hours Budgeted price $50 per pound $14 per hour During July, Gll produced and sold 4,000 containers using 2,250 pounds of direct materials at an average cost per pound of $46 and 875 direct manufacturing labor hours at an average wage of $14.25 per hour. The direct material efficiency variance during July is O A. $11,500 favorable O B. $3,500 favorable O C. $3,500 unfavorable O D. $12,500 unfavorable
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