The following data is given for the Stringer Company: Bu…
The following data is given for the Stringer Company: Budgeted production 925 units Actual production 1,005 units Materials: Standard price per ounce $1.84 Standard ounces per completed unit 12 Actual ounces purchased and used in production 12,422 Actual price paid for materials $25,465 Labor: Standard hourly labor rate $14.04 per hour Standard hours allowed per completed unit 4.7 Actual labor hours worked 5,175.75 Actual total labor costs $78,930 Overhead: Actual and budgeted fixed overhead $1,007,000 Standard variable overhead rate $28.00 per standard labor hour Actual variable overhead costs $144,921 Overhead is applied on standard labor hours. What is the direct materials quantity variance?
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