The following data is given for the Stringer Company: Budgeted production 920...
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Accounting
The following data is given for the Stringer Company:
| Budgeted production | 920 units |
| Actual production | 1,035 units |
| Materials: | |
| Standard price per ounce | $1.77 |
| Standard ounces per completed unit | 11 |
| Actual ounces purchased and used in production | 11,727 |
| Actual price paid for materials | $24,040 |
| Labor: | |
| Standard hourly labor rate | $14.56 per hour |
| Standard hours allowed per completed unit | 4.6 |
| Actual labor hours worked | 5,330.25 |
| Actual total labor costs | $81,286 |
| Overhead: | |
| Actual and budgeted fixed overhead | $1,145,000 |
| Standard variable overhead rate | $26.00 per standard labor hour |
| Actual variable overhead costs | $149,247 |
| 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
a.$3,283.56 favorable
b.$3,283.56 unfavorable
c.$8,208.9 unfavorable
d.$8,208.9 favorable
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