Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use this information for Stringer Company to answer the question that follow. The following data are given for Stringer Company: 941 units Budgeted production 1,061

image text in transcribed
image text in transcribed
image text in transcribed
Use this information for Stringer Company to answer the question that follow. The following data are given for Stringer Company: 941 units Budgeted production 1,061 units Actual production Materials: $1.77 Standard price per ounce 10 Standard ounces per completed unit 10,928 Actual ounces purchased and used in production $22,402 Actual price paid for materials Labor: $14.86 per hour Standard hourly labor rate Standard hours allowed per completed unit 4.1 Actual labor hours worked 5,464.15 Actual total labor costs $83,328 Overhead: Actual and budgeted fixed overhead $1,044,000 Standard variable overhead rate $27.00 per standard labor hour Actual variable overhead costs $152,996 Overhead is applied on standard labor hours. Round your intermediate calculations and final answer to the rfearest cent. The direct materials price variance is a. $3,059.84 unfavorable b. $3,059.84 favorable c. $7,649.60 favorable Od. $7,649.60 unfavorable Use this information to answer the question that follow. The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.92; actual, $2.03 Standard yards per unit: standard, 4.61 yards; actual, 5.18 yards Units of production: 9,000 Calculate the direct materials quantity variance. a. $10,413.90 favorable Ob. $9,849.60 favorable Oc. $10,413.90 unfavorable Od. $9,849.60 unfavorable Japan Company produces lamps that require 2 standard hours per unit at an hourly rate of $19.30 per hout Production of 5,600 units required 11,420 hours at an hourly rae of $18.90 per hour what is the direct labor for the following Enter taverable variances as negative numbers a Rate Variance b. Time Variance c Cost Varlance

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

Accounting

Authors: John Hoggett, Lew Edwards, John Medlin

6th Edition

0470806583, 978-0470806586

More Books

Students also viewed these Accounting questions

Question

LO6Outline steps for creating a performance improvement plan.

Answered: 1 week ago