Question - The following data is given for the stringer Company:
Budgeted production 1,044 units
Actual production 925 units
Materials: Standard price per ounce $1.78
Standard pounds per completed unit 10
Actual pounds purchased and used in production 8,973
Actual cost of materials $18,395
Labor: Standard hourly labor rate $15.00 per hour
Standard hours allowed per completed unit 4.0
Actual labor hours worked 4,763.75
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.
2,423 F
2,423 U
493 F
493 U