The following data is given for the stringer Company:
Budgeted production1,044
unitsActual production 925
unitsMaterials:
Standard price per ounce$1.78
Standard pounds per completed unit10
Actual pounds purchased and used in production8,973
Actual cost of materials$18,395
Labor:
Standard hourly labor rate$15.00 per hour
Standard hours allowed per completed unit4.0
Actual labor hours worked4,763.75
Actual total labor costs$72,647
Overhead:
Actual and budgeted fixed overhead$1,081,997
Standard variable overhead rate$28.00 per standard labor hour
Actual variable overhead costs$133,385
Overhead is applied on standard labor hours. Determine the direct material quantity variance.