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Budgeted production 943 units Actual production 1,053 units Materials: Standard price per ounce $1.75 Standard ounces per completed unit 11 Actual ounces purchased and used
Budgeted production | 943 units |
Actual production | 1,053 units |
Materials: | |
Standard price per ounce | $1.75 |
Standard ounces per completed unit | 11 |
Actual ounces purchased and used in production | 11,930 |
Actual price paid for materials | $24,456 |
Labor: | |
Standard hourly labor rate | $14.27 per hour |
Standard hours allowed per completed unit | 4.7 |
Actual labor hours worked | 5,422.95 |
Actual total labor costs | $82,700 |
Overhead: | |
Actual and budgeted fixed overhead | $1,159,000 |
Standard variable overhead rate | $28.00 per standard labor hour |
Actual variable overhead costs | $151,843 |
Overhead is applied on standard labor hours. |
Round your final answer to the nearest dollar. Do not round interim calculations.
The direct materials price variance is
a.$8,947.5 unfavorable
b.$8,947.5 favorable
c.$3,579 unfavorable
d.$3,579 favorable
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