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
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Add Answer to:
The following data are given for Stringer Company:
Budgeted production
909 units
Actual production
1,036 units...
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...
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:...
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...
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 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...
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...
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...
A. The standard costs and actual costs for direct materials for the manufacture of 2,240 actual...
A. The standard costs and actual costs for direct materials for the manufacture of 2,240 actual units of product are as follows: Standard Costs Direct materials 2,240 kilograms @$8.60 Actual Costs Direct materials 2,300 kilograms The direct materials quantity variance is? Choose the correct answer below $413 favorable $516 unfavorable $516 favorable $413 unfavorable B. The following data relate to direct labor costs for the current period: Standard costs 7,200 hours at $11.30 Actual costs 6,400 hours at $10.80 What...
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:...
1,005 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...
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...
A. The standard costs and actual costs for direct materials for the manufacture of 2,240 actual units of product are as follows: Standard Costs Direct materials 2,240 kilograms @$8.60 Actual Costs Direct materials 2,300 kilograms The direct materials quantity variance is? Choose the correct answer below $413 favorable $516 unfavorable $516 favorable $413 unfavorable B. The following data relate to direct labor costs for the current period: Standard costs 7,200 hours at $11.30 Actual costs 6,400 hours at $10.80 What...
Most questions answered within 3 hours.
-
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 1 second ago -
A newspaper in a large Midwestern city reported that the
National Association of Realtors said that...
asked 1 minute ago -
1. Develop a use case diagram for the bank case study described
in Chapter 1. 2....
asked 11 minutes ago -
The phylum Protista has often been referred to as a junk drawer
of classification. Explain what...
asked 18 minutes ago -
The average amount of money spent for lunch per person in the
college cafeteria is $7.09...
asked 20 minutes ago -
You follow the lab procedure and at the end of Part 4C, you used
an average...
asked 39 minutes ago -
Write 250-450 words, about the following: • Analyze how a
servant leader in your organization or...
asked 42 minutes ago -
3. American and Japanese workers can each produce 4 cars a
year. An American worker can...
asked 45 minutes ago -
On October 1, 20X1, a company purchased a piece of land by
agreeing to pay the...
asked 57 minutes ago -
Jamie is doing a survey at her school about whether the students
feel the cafeteria food...
asked 1 hour ago -
What are the roles of 3' and 5' untranslated regions in
mRNAs?
asked 1 hour ago -
A domestic television receives antenna delivers a sky noise
power of -105 dBm to a matched...
asked 1 hour ago