Question

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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