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Find june direct material price variance

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Cecilia Industries, Inc. (CII), developed standard costs for direct material and direct labor. In 2016, CII estimated the following standard costs for one of their major products, the 10-gallon plastic container.

                               Budgeted quantity              Budgeted price

Direct materials.        10 pounds                     $30 per pound

Direct labor.            05 hours                         $15 per hour

During June, CII produced and sold 10,000 containers using 980 pounds of direct materials at an average cost per pound of $32 and 500 direct manufacturing labor-hours at an average wage of $15.25 per hour.

Problem 1: June's direct material price variance ?

Reference no: EM132668559

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