The following data is given for the stringer company:
budgeted production 1,011 units
actual production 909 units
materials:
standard price per ounce $1.84
standard pounds per completed unit 11
actual pounds purchased and used in production 9,699
actual cost of materials $19,883
labor:
standard hourly labor rate $14.00 per hour
standard hours allowed per completed unit 5.0
actual labor hours worked 4,681.35
actual total labor costs $71,391
overhead:
actual and budgeted fixed overhead $1,135,361
standard variable overhead rate $28.00 per standard labor hour
actual variable overhead costs $131,078
overhead is applied on standard labor hours.
determine the direct material price variance. round your answer to nearest whole number
select the correct answer.
$1,485 f
$3,818 u
$552 f
$2,037 u