The following data is given for the Stringer Company Budgeted production Actual production Materials: 963 units 1,045 units $1.95 Standard price per ounce Standard ounces per completed unit Actual ounces purchased and used in production 11,840 Actual price paid for materials Labor: $24,272 Standard hourly labor rate Standard hours allowed per $14.18 per hour 4.2 completed unit 5,381.75 $82,072 Actual labor hours worked Actual total labor costs Overhead: Actual and budgeted fixed overhead $1,156,000 $28.00 per standard labor hour $150,689 Standard variable overhead rate Actual variable overhead costs Overhead is applied on standard labor hours. The direct materials quantity variance is 1.184.00 favorable 1,184.00 unfavorable 672.75 unfavorable 672.75 favorable