Use this information for Stringer Company to answer the question that follow. The following data are...
Use this information for Stringer Company to answer the question that follow.
The following data are given for Stringer Company:
| Budgeted production | 920 units |
| Actual production | 1,021 units |
| Materials: | |
| Standard price per ounce | $1.81 |
| Standard ounces per completed unit | 11 |
| Actual ounces purchased and used in production | 11,568 |
| Actual price paid for materials | $23,714 |
| Labor: | |
| Standard hourly labor rate | $14.51 per hour |
| Standard hours allowed per completed unit | 4.4 |
| Actual labor hours worked | 5,258.15 |
| Actual total labor costs | $80,187 |
| Overhead: | |
| Actual and budgeted fixed overhead | $1,093,000 |
| Standard variable overhead rate | $26.00 per standard labor hour |
| Actual variable overhead costs | $147,228 |
| 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.$2,776.32 favorable
b.$6,940.80 unfavorable
c.$6,940.80 favorable
d.$2,776.32 unfavorable
Homework Answers
Answer : D = $ 2,776.32 Unfavorable
__________________________________________________________________________
>> Actual Price = $ 23,714 / 11,568 = $ 2.05.
>> Actual Quantity = 11,568.
>> Standard Price = $ 1.81
__________________________________________________________________________
>> Direct Material Price Variance = ( Standard Price - Actual Price ) * Actual Quantity
>> Direct Material Price Variance = ( $ 1.81 - $ 2.05 ) * 11,568
>> Direct Material Price Variance = $ 2,776.32 Unfavorable
__________________________________________________________________________
Add Answer to:
Use this information for Stringer Company to answer the
question that follow.
The following data are...
Use this information for Stringer Company to answer the question that follow. The following data are...
Use this information for Stringer Company to answer the question that follow. The following data are given for Stringer Company: 941 units Budgeted production 1,061 units Actual production Materials: $1.77 Standard price per ounce 10 Standard ounces per completed unit 10,928 Actual ounces purchased and used in production $22,402 Actual price paid for materials Labor: $14.86 per hour Standard hourly labor rate Standard hours allowed per completed unit 4.1 Actual labor hours worked 5,464.15 Actual total labor costs $83,328 Overhead:...
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...
22. The following data is given for the Stringer Company: Budgeted production 917 units Actual production...
22. The following data is given for the Stringer Company: Budgeted production 917 units Actual production 1,002 units Materials: Standard price per ounce $1.75 Standard ounces per completed unit 11 Actual ounces purchased and used in production 11,353 Actual price paid for materials $23,274 Labor: Standard hourly labor rate $14.38 per hour Standard hours allowed per completed unit 5.0 Actual labor hours worked 5,160.3 Actual total labor costs $78,695 Overhead: Actual and budgeted fixed overhead $1,124,000 Standard variable overhead rate...
The following data are given for Harry Company: Budgeted production 1,054 units Actual production 937 units...
The following data are given for Harry Company: Budgeted production 1,054 units Actual production 937 units Materials: Standard price per ounce $1.919 Standard ounces per completed unit 11 Actual ounces purchased and used in production 10,616 Actual price paid for materials $21,763 Labor: Standard hourly labor rate $14.76 per hour Standard hours allowed per completed unit 4.3 Actual labor hours worked 4,826 Actual total labor costs $78,423 Overhead: Actual and budgeted fixed overhead $1,025,000 Standard variable overhead rate $24.00 per...
The following data is given for the Bahia Company: Budgeted production 1,040 units Actual production 906...
The following data is given for the Bahia Company: Budgeted production 1,040 units Actual production 906 units Materials: Standard price per pound $1.866 Standard pounds per completed unit 11 Actual pounds purchased and used in production 9,667 Actual price paid for materials $19,817 Labor: Standard hourly labor rate $14.62 per hour Standard hours allowed per completed unit 4.0 Actual labor hours worked 4,665.9 Actual total labor costs $71,155 Overhead: Actual and budgeted fixed overhead $1,181,000 Standard variable overhead rate $26.00...
1) 2) 3) 4) 5) A favorable cost variance occurs when Oa. actual costs are the...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
2. The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Sta...
2.
The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Standard lubricants Standard supplies 4,000 units 4.1 machine-hours 5.60 per machine-hour 4.30 per machine-hour $ $ Actual production Actual machine-hours Actual lubricants (total) Actual supplies (total) 4,300 units 9,480 machine-hours $ 54,833 $40,239 Required: Compute the variable overhead rate variances for lubricants and for supplies. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect...
The following data is given for the Bahia Company: Budgeted production (at 100% of normal capacity)...
The following data is given for the Bahia Company: Budgeted production (at 100% of normal capacity) 1,077 units Actual production 917 units Materials: Standard price per pound $1.76 Standard pounds per completed unit 12 Actual pounds purchased and used in production 10,674 Actual price paid for materials $21,882 Labor: Standard hourly labor rate $14.01 per hour Standard hours allowed per completed unit 4.3 Actual labor hours worked 4,722.55 Actual total labor costs $72,019 Overhead: Actual and budgeted fixed overhead $1,035,000...
Use this information to answer the question that follow. The following data relate to direct materials...
Use this information to answer the question that follow. The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.98; actual, $2.03 Standard yards per unit: standard, 4.62 yards; actual, 5.06 yards Units of production: 9,100 Calculate the direct materials quantity variance. a.$8,128.12 favorable b.$7,927.92 unfavorable c.$7,927.92 favorable d.$8,128.12 unfavorable Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,600 pounds of material, $5.00 and standard costs for...
1,005 units 956 units $1.90 11 10,201 $20,912 The following data are given for Bahia Company:...
1,005 units 956 units $1.90 11 10,201 $20,912 The following data are given for Bahia Company: Budgeted production (at 100% of normal capacity) Actual production Materials: Standard price per pound Standard pounds per completed unit Actual pounds purchased and used in production Actual price paid for materials Labor: Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs Overhead: Actual and budgeted fixed overhead Standard variable overhead rate Actual variable overhead costs...
Use this information for Stringer Company to answer the question that follow. The following data are given for Stringer Company: 941 units Budgeted production 1,061 units Actual production Materials: $1.77 Standard price per ounce 10 Standard ounces per completed unit 10,928 Actual ounces purchased and used in production $22,402 Actual price paid for materials Labor: $14.86 per hour Standard hourly labor rate Standard hours allowed per completed unit 4.1 Actual labor hours worked 5,464.15 Actual total labor costs $83,328 Overhead:...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
2.
The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Standard lubricants Standard supplies 4,000 units 4.1 machine-hours 5.60 per machine-hour 4.30 per machine-hour $ $ Actual production Actual machine-hours Actual lubricants (total) Actual supplies (total) 4,300 units 9,480 machine-hours $ 54,833 $40,239 Required: Compute the variable overhead rate variances for lubricants and for supplies. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect...
1,005 units 956 units $1.90 11 10,201 $20,912 The following data are given for Bahia Company: Budgeted production (at 100% of normal capacity) Actual production Materials: Standard price per pound Standard pounds per completed unit Actual pounds purchased and used in production Actual price paid for materials Labor: Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs Overhead: Actual and budgeted fixed overhead Standard variable overhead rate Actual variable overhead costs...
Most questions answered within 3 hours.
-
A 236-m-wide river flows due east at a uniform speed of 2.1 m/s.
A boat with...
asked 2 minutes ago -
Answer the following questions based on this following business
startup idea:
Our business concept is individualized...
asked 4 minutes ago -
A random sample of 40 adults with no children under
the age of 18 years reaults...
asked 16 minutes ago -
Now that we have some familiarity with random variables, we are
going to start a discussion...
asked 19 minutes ago -
A beam of microwaves with λ = 0.9 mm is incident upon a 9 cm
slit....
asked 12 minutes ago -
It is common to hear comments like “Why do baseball players
earn millions of dollars a...
asked 11 minutes ago -
You
are setting up a class so that you can train several junior
administrators on Windows...
asked 19 minutes ago -
True or False?
1) The superfund legislation established a national trust fund
to pay for the...
asked 29 minutes ago -
n January 1, Coldwater Company has a net book value of
$1,683,000 as follows:
1,050 shares...
asked 28 minutes ago -
Robert was able to travel 166.0 miles in 4.000 hours and used 38
liters of gasoline....
asked 34 minutes ago -
Explain the differences between FIND and FINDSTR command in
windows:
[write in a few sentences]
asked 45 minutes ago -
A 200g block attached to a horizontal spring is oscillating with
an amplitude of 2.0cm and...
asked 49 minutes ago