The following data is given for the stringer company:
budgeted production 1,011 units
actual production 909 units
materials:
standard price per ounce $1.84
standard pounds per completed unit 11
actual pounds purchased and used in production 9,699
actual cost of materials $19,883
labor:
standard hourly labor rate $14.00 per hour
standard hours allowed per completed unit 5.0
actual labor hours worked 4,681.35
actual total labor costs $71,391
overhead:
actual and budgeted fixed overhead $1,135,361
standard variable overhead rate $28.00 per standard labor hour
actual variable overhead costs $131,078
overhead is applied on standard labor hours.
determine the direct material price variance. round your answer to nearest whole number
select the correct answer.
$1,485 f
$3,818 u
$552 f
$2,037 u

James jones is the owner of a small retail business operated as a sole proprietorship. during 2017, his business recorded the following items of income and expense: revenue from inventory sales $ 147,000 cost of goods sold 33,500 business license tax 2,400 rent on retail space 42,000 supplies 15,000 wages paid to employees 22,000 payroll taxes 1,700 utilities 3,600 compute taxable income attributable to the sole proprietorship by completing schedule c to be included in james’s 2017 form 1040. compute self-employment tax payable on the earnings of james’s sole proprietorship by completing a 2017 schedule se, form 1040. assume your answers to parts a and b are the same for 2018. further assume that james's business is not a service business, and that it has $155,000 unadjusted basis in tangible depreciable property. calculate james's 2018 section 199a deduction.