The following data are given for Stringer Company: Budgeted production967 units Actual production 1,071 units Materials: Standard price per ounce$1.77 Standard ounces per completed unit12 Actual ounces purchased and used in production13,238 Actual price paid for materials$27,138 Labor: Standard hourly labor rate$14.29 per hour Standard hours allowed per completed unit4.7 Actual labor hours worked5,515.65 Actual total labor costs$84,114 Overhead: Actual and budgeted fixed overhead$1,091,000 Standard variable overhead rate$27.00 per standard labor hour Actual variable overhead costs$154,438 Overhead is applied on standard labor hours. Do not round interim calculations. Round your final answer to the nearest dollar. The direct materials price variance is

Direct material price variance=  $3,706.64 unfavorable

Explanation:

Giving the following information:

Standard price per ounce $1.77

Actual ounces purchased and used in production 13,238

Actual price paid for materials $27,138

To calculate the direct material price variance, we need to use the following formula:

Direct material price variance= (standard price - actual price)*actual quantity

Actual price= 27,138 / 13,238= $2.05

Direct material price variance= (1.77 - 2.05)*13,238

Direct material price variance=  $3,706.64 unfavorable

the total product offering.

Explanation:

A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, furniture, computer, soft drinks, motorcycles, shoes, clothes, etc.

A total product offering can be defined as all of the features and attributes of a product that a consumer evaluates when he or she is deciding whether or not to buy a particular product. Some of the important elements of a total product offering are price, convenience, guarantee, warranty, producer's reputation, buyers' past experience, speed of delivery, brand name, package, etc.

In this scenario, Darius wants to buy a new bedroom furniture. Naturally, he compares the various attributes of a product which include types, warranty, reputation, price, product experience, etc.

Hence, all of the components that Darius is evaluating make up the total product offering.