#73

The following data is given for the Stringer Company: Budgeted production 1, 019 units Actual production 919 units Materials: Standard price per ounce $1.91 Standard pounds per completed unit 10 Actual pounds purchased and used in production 8, 914 Actual cost of materials $18, 274 Labor: Standard hourly labor rate $14.00 per hour Standard hours allowed per completed unit 5.0 Actual labor hours worked 4, 732.85 Actual total labor costs $72, 176 Overhead: Actual and budgeted fixed overhead $1, 091, 119 Standard variable overhead rate $26.00 per standard labor hour Actual variable overhead costs $132, 520 Overhead is applied on standard labor hours. Determine the direct material price variance. Round your answer to nearest whole number Select the correct answer. $527 F $13, 050 U $1, 248 U $721 F