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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