Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data are given for Stringer Company: Budgeted production 902 units Actual production 1,098 units Materials: Standard price per ounce $1.91 Standard ounces per

The following data are given for Stringer Company:

Budgeted production 902 units
Actual production 1,098 units
Materials:
Standard price per ounce $1.91
Standard ounces per completed unit 11
Actual ounces purchased and used in production 12,440
Actual price paid for materials $25,502
Labor:
Standard hourly labor rate $14.30 per hour
Standard hours allowed per completed unit 5.0
Actual labor hours worked 5,654.7
Actual total labor costs $86,234
Overhead:
Actual and budgeted fixed overhead $1,057,000
Standard variable overhead rate $26.00 per standard labor hour
Actual variable overhead costs $158,332
Overhead is applied on standard labor hours.

The direct materials quantity variance is

a.1,741.60 favorable
b.1,741.60 unfavorable
c.691.42 unfavorable
d.691.42 favorable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

define the term outplacement

Answered: 1 week ago

Question

describe the services that an outplacement consultancy may provide.

Answered: 1 week ago