Remaining Time: 1 hour, 53 minutes, 22 seconds. Question Completion Status: $369,500 57 hour. QUESTION 39 Genent Industries, Inc. (GHI), developed standard costs for materials and for labor. In 2019, GIl estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container. Budgeted quantity Budgeted price Direct materials 0.30 pounds $20 per pound Direct labor 0.20 hours $12 per hour During July, Gll purchased 1,000 pounds of materials at a cost of $19,000 and used 625 labor hours at an average wage of $11.75 per Calculate the Price Variance for materials $1,000 favorable $1,100 unfavorable $1,000 unfavorable O $2,000 unfavorable None of the above 5.7 poll QUESTION 40 Which of the following does NOT accurately describe an advantage of bottom up budgeting? SVE ATAMENTE Click Save and submit to sove and submit. Click Save All Antrer to save all answers