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The following data are given for Stringer Company: Budgeted production 928 units Actual production 1,022 units Materials: Standard price per ounce $1.89 Standard ounces per
The following data are given for Stringer Company:
Budgeted production | 928 units |
Actual production | 1,022 units |
Materials: | |
Standard price per ounce | $1.89 |
Standard ounces per completed unit | 10 |
Actual ounces purchased and used in production | 10,527 |
Actual price paid for materials | $21,580 |
Labor: | |
Standard hourly labor rate | $14.76 per hour |
Standard hours allowed per completed unit | 4.2 |
Actual labor hours worked | 5,263.3 |
Actual total labor costs | $80,265 |
Overhead: | |
Actual and budgeted fixed overhead | $1,200,000 |
Standard variable overhead rate | $24.00 per standard labor hour |
Actual variable overhead costs | $147,372 |
Overhead is applied on standard labor hours. |
The direct materials quantity variance is
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