The following data are given for Stringer Company: Budgeted production 909 units Actual production 1,036 units...
The following data are given for Stringer Company:
| Budgeted production | 909 units |
| Actual production | 1,036 units |
| Materials: | |
| Standard price per ounce | $1.82 |
| Standard ounces per completed unit | 12 |
| Actual ounces purchased and used in production | 12,805 |
| Actual price paid for materials | $26,250 |
| Labor: | |
| Standard hourly labor rate | $14.95 per hour |
| Standard hours allowed per completed unit | 4.4 |
| Actual labor hours worked | 5,335.4 |
| Actual total labor costs | $81,365 |
| Overhead: | |
| Actual and budgeted fixed overhead | $1,110,000 |
| Standard variable overhead rate | $28.00 per standard labor hour |
| Actual variable overhead costs | $149,391 |
| Overhead is applied on standard labor hours. | |
Round your intermediate calculations and final answer to the nearest cent.
The direct materials price variance is
a.$7,362.87 unfavorable
b.$2,945.15 favorable
c.$7,362.87 favorable
d.$2,945.15 unfavorable
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The following data are given for Stringer Company:
Budgeted production
909 units
Actual production
1,036 units...
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