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 Materials: 906 units 1,092 units $1.78 10 11,248 $23,058 Standard price per

image text in transcribed
image text in transcribed
The following data is given for the Stringer Company: Budgeted production Actual production Materials: 906 units 1,092 units $1.78 10 11,248 $23,058 Standard price per ounce Standard ounces per completed unit Actual ounces purchased and used in production Actual price paid for materials Labor: $14.75 per hour 4.7 5,623.8 $85,763 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 Actual variable overhead costs $1,067,000 $27.00 per standard labor hour 157,466 Overhead is applied on standard labor hours. $23,058 Actual price paid for materials Labor: $14.75 per hour 4.7 5,623.8 $85,763 Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs Overhead: Actual and budgeted fixed overhead $1,067,000 $27.00 per standard labor hour $157,466 Standard variable overhead rate Actual variable overhead costs Overhead is applied on standard labor hours. The direct materials quantity variance is Oa. 3,036.56 favorable Ob. 3,036.56 unfavorable OC. 583.84 unfavorable Od. 583.84 favorable

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

Information Technology Auditing

Authors: James A. Hall

4th edition

1133949886, 978-1305445154, 1305445155, 978-1133949886

More Books

Students also viewed these Accounting questions

Question

8.1 Differentiate between onboarding and training.

Answered: 1 week ago

Question

8.3 Describe special considerations for onboarding.

Answered: 1 week ago