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The following data is given for the Stringer Company: Budgeted production 900 units Actual production 1,056 units Materials: Standard price per ounce $1.9 Standard ounces
The following data is given for the Stringer Company:
Budgeted production | 900 units |
Actual production | 1,056 units |
Materials: | |
Standard price per ounce | $1.9 |
Standard ounces per completed unit | 12 |
Actual ounces purchased and used in production | 13,052 |
Actual price paid for materials | $26,757 |
Labor: | |
Standard hourly labor rate | $14.30 per hour |
Standard hours allowed per completed unit | 5.0 |
Actual labor hours worked | 5,438.4 |
Actual total labor costs | $82,936 |
Overhead: | |
Actual and budgeted fixed overhead | $1,153,000 |
Standard variable overhead rate | $28.00 per standard labor hour |
Actual variable overhead costs | $152,275 |
Overhead is applied on standard labor hours. |
The direct materials quantity variance is
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