Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data is given for the Stringer Company: Budgeted production Actual production 932 units 1,057 units Materials: $1.77 12 Standard price per ounce Standard

image text in transcribed
The following data is given for the Stringer Company: Budgeted production Actual production 932 units 1,057 units Materials: $1.77 12 Standard price per ounce Standard ounces per completed unit Actual ounces purchased and used in production Actual price paid for materials 13,065 $26,783 Labor: $14.32 per hour 4.9 5,443.55 Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs Overhead: Actual and budgeted fixed overhead Standard variable overhead rate $83,014 $1,068,000 $24.00 per standard labor hour Actual variable overhead costs $152,419 Overhead is applied on standard labor hours. Round your final answer to the nearest dollar. Do not round Interim calculations. The direct materials price variance is Oa. 9.145.5 unfavorable Ob. $3,658 2 unfavorable Oc. $3,658 2 favorable Od. 39.145,5 favorable All work saved

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Behind Closed Doors What Company Audit Is Really About

Authors: V. Beattie, R. Brandt, S. Fearnley

2001 Edition

0333747844, 978-0333747841

More Books

Students also viewed these Accounting questions

Question

List out some inventory management techniques.

Answered: 1 week ago