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The following data are given for Stringer Company: Budgeted production 934 units Actual production 1,060 units Materials: Standard price per ounce $1.75 Standard ounces per
The following data are given for Stringer Company:
Budgeted production | 934 units |
Actual production | 1,060 units |
Materials: | |
Standard price per ounce | $1.75 |
Standard ounces per completed unit | 11 |
Actual ounces purchased and used in production | 12,010 |
Actual total price paid for materials | $24,620 |
Labor: | |
Standard hourly labor rate | $14.43 per hour |
Standard hours allowed per completed unit | 4.2 |
Actual labor hours worked | 5,459 |
Actual total labor costs | $83,250 |
Overhead: | |
Actual and budgeted fixed overhead | $1,190,000 |
Standard variable overhead rate | $24.00 per standard labor hour |
Actual variable overhead costs | $152,852 |
Overhead is applied on standard labor hours. |
The direct materials price variance is (round your intermediate calculations and final answer to the nearest cent.)
a. $3,603.00 unfavorable
b. $3,603.00 favorable
c. $9,007.50 unfavorable
d. $9,007.50 favorable
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