Answer the following questions using the information below:
Diana Industries, Inc. (DII) , developed standard costs for direct material and direct labor. In 2010, DII estimated the following standard costs for one of their major products, the 10-gallon plastic container.
During June, DII 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.
-June's direct manufacturing labor efficiency variance is:
Definitions:
Harvest Strategy
A business plan for either selling a company, shutting down operations, or passing it onto another generation, often after reaching a certain level of maturity or profitability.
Venture-Building
The process of creating new businesses, typically by entrepreneurs or corporations, to explore new market opportunities.
Outside Advice
Consultation or recommendations from external experts or professionals to aid in decision-making or project planning.
Harvest Strategy
A plan or approach for realizing and securing profits from a business venture, investment, or asset at a particular point in time.
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