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The following data is given for the Stringer Company: Budgeted production 952 units Actual production 1,002 units Materials: Standard price per ounce $1.82 Standard ounces
The following data is given for the Stringer Company: Budgeted production 952 units Actual production 1,002 units Materials: Standard price per ounce $1.82 Standard ounces per completed unit 11 Actual ounces purchased and used in production 11,353 Actual price paid for materials $23,274 Labor: Standard hourly labor rate $14.35 per hour Standard hours allowed per completed unit 4.1 Actual labor hours worked 5,160.3 $78,695 Actual total labor costs Overhead: Actual and budgeted fixed overhead $1,151,000 Standard variable overhead rate $24.00 per standard labor hour $144,488 Actual variable overhead costs Overhead is applied on standard labor hours. The direct materials auantitv variance is Standard price per ource $1.82 Standard ounces per completed unit 11 Actual ounces purchased and used in production 11,353 Actual price paid for materials $23,274 Labor: Standard hourly labor rate $14.35 per hour Standard hours allowed per completed unit 4.1 Actual labor hours worked 5,160.3 Actual total labor costs $78,695 Overhead: Actual and budgeted fixed overhead $1,151,000 Standard variable overhead rate $24.00 per standard labor hour Actual variable overhead costs $144,488 Overhead is applied on standard labor hours. The direct materials quantity variance is Oa. 2,611.54 favorable Ob. 2,611.54 unfavorable Oc. 602.42 unfavorable Od. 602.42 favorable
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