Question - The following data is given for the Stringer Company:
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Budgeted production
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1,045 units
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Actual production
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931 units
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Materials:
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|
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Standard price per ounce
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$1.8
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Standard pounds per completed unit
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12
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Actual pounds purchased and used in production
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10,837
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Actual cost of materials
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$22,216
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Labor:
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Standard hourly labor rate
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$15.00 per hour
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Standard hours allowed per completed unit
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4.0
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Actual labor hours worked
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4,794.65
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Actual total labor costs
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$73,118
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Overhead:
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|
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Actual and budgeted fixed overhead
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$1,076,177
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Standard variable overhead rate
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$26.00 per standard labor hour
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Actual variable overhead costs
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$134,250
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Overhead is applied on standard labor hours.
Determine the direct material price variance. Round your answer to nearest whole number
$2,709 U
$37,426 U
$603 F
$2,106 F