The following data are given for Stringer Company: Budgeted production Actual production Materials: Standard price per ounce Standard ounces per completed unit Actual ounces purchased and used in production Actual price paid for materials Labor: Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs 907 units 1,033 units $1.91 11 11,704 $23,993 $14.84 per hour 4.6 5,319.95 $81,129 Overhead: Actual and budgeted fixed overhead Standard variable overhead rate Actual variable overhead costs Overhead is applied on standard labor hours. Do not round interim calculations. Round your final answer to the nearest dollar. The direct materials price variance is $1,071,000 $28.00 per standard labor hour $148,959

The following data are given for Stringer Company: Budgeted production Actual production Materials: Standard price per ounce Standard ounces per completed unit Actual ounces purchased and used in production Actual price paid for materials Labor: Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs 907 units 1,033 units $1.91 11 11,704 $23,993 $14.84 per hour 4.6 5,319.95 $81,129 Overhead: Actual and budgeted fixed overhead Standard variable overhead rate Actual variable overhead costs Overhead is applied on standard labor hours. Do not round interim calculations. Round your final answer to the nearest dollar. The direct materials price variance is $1,071,000 $28.00 per standard labor hour $148,959

Name: The following data are given for Stringer Company:Budgeted production
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Description: The following data are given for Stringer Company:Budgeted productionActual productionMaterials:Standard price per ounceStandard ounces per completed unitActual ounces purchased and used in productionActual price paid for materialsLabor:Standard hou

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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