The following data is given for the Stringer Company: Budgeted production 969 units Actual…
- March 06, 2021/ Questions
The following data is given for the Stringer Company: Budgeted production 969 units Actual production 1,062 units Materials: Standard price per ounce $1.88 Standard ounces per completed unit 11 Actual ounces purchased and used in production 12,032 Actual price paid for materials $24,666 Labor: Standard hourly labor rate $14.73 per hour Standard hours allowed per completed unit 4.4 Actual labor hours worked 5,469.3 Actual total labor costs $83,407 Overhead: Actual and budgeted fixed overhead budgeted fixed overhead $1,186,000 Standard variable overhead rate $26.00 per standard labor hour Actual variable overhead costs $153,140 Overhead is applied on standard labor hours. The direct materials quantity variance is a.2,045.84 favorable b.2,045.84 unfavorable c.658.00 unfavorable d.658.00 favorable