Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you have developed the following standard costs fo

You have developed the following standard costs for direct material and direct labor for your...

70.2K

Verified Solution

Question

Accounting

You have developed the following standard costs for direct material and direct labor for your product. In 2019, you estimated the following standard costs for one of your products, the 10-gallon cowboy hat.

Budgeted quantity Budgeted price

Direct materials 0.10 yards $60 per yard

Direct labor 0.05 hours $30 per hour

During June, you produced and sold 5,000 hats using 620 yards of direct materials at an average cost per yard of $64 and 1,000 direct manufacturing labor-hours at an average wage of $30.50 per hour.

June's direct material flexible-budget variance is ________.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Test the Business Major's hypothesis at the 5% significance level. The mean ‘Cost’ for a college...

Psychology
1.2K views

Describe Tuckman's Team Development Model, including the five stages. Apply the stages in Tuckman's Team Development Model...

Psychology
1.2K views

A researcher wants to examine the impact of internet use on heart rate. Students are asked...

Biology
1.2K views

The phases of professional identity development are (Select all that apply)A. Develops friendships with other...

Physics
1.2K views

10 A satellite is moving in circular orbit with areal velocity V If the radius...

Physics
1.2K views

0 A uniformly charged solid sphere of radius R has potential Vo measured with respect...

Geometry
1.2K views

The trapezoids below are similar Find the area of the smaller trapezoid if the area...

Basic Math
1.2K views

The container of orange juice held 5 cups of juice. If a serving of orange...

Accounting
1.2K views

Long-Term Solvency Analysis The following information was taken from Station Company's...

Accounting
1.2K views

Please help Skull Company makes snowboards and uses the total cost method in...

Accounting
1.2K views

At December 31,2023, Pharoah Incorporated has a bond payable due September 1,2024, with a carrying...

Accounting
1.2K views

Which of the following statements is not correct? a). The FUTA tax provides benefits for...