6.Materials, labor and overhead variances (compute for the missing amounts) Standard variable costs per unit: A) Materials: $ pounds @ P. B) Direct labor: _hours @ P12.00 P P6.00 C) Variable overhead: P * per direct labor hour P Production Materials purchases,32,000 pounds 8,000 units P62,000 Material used at standard prices, 31,200 pounds P Direct labor(actual) _ hours Material purchase price variance Material used variance Direct labor rate variance Direct labor efficiency variance Variable overhead spending variance Actual Variable overhead cost P47,200 P2,000 adverse P P P2,000 favorable P 1,500 credit P