Question
The following data is given for the Stringer Company: Budgeted production 915 units Actual production 1,018 units Materials: Standard price per ounce $1.98 Standard ounces
The following data is given for the Stringer Company: Budgeted production 915 units Actual production 1,018 units Materials: Standard price per ounce $1.98 Standard ounces per completed unit 10 Actual ounces purchased and used in production 10,485 Actual price paid for materials $21,494 Labor: Standard hourly labor rate $14.45 per hour Standard hours allowed per completed unit 4.4 Actual labor hours worked 5,242.7 Actual total labor costs $79,951 Overhead: Actual and budgeted fixed overhead $1,076,000 Standard variable overhead rate $24.00 per standard labor hour Actual variable overhead costs $146,796 Overhead is applied on standard labor hours. The direct materials quantity variance is a. 733.70 favorable b. 733.70 unfavorable c. 603.90 unfavorable d. 603.90 favorable
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