RCR Company has made the following information available for its production facility for the current month....

 

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RCR Company has made the following information available for its production facility for the current month. Fixed overhead was estimated at 19,000 machine hours for the production cycle. Actual machine hours for the period were 18,900, which generated 3,900 units. Material purchased (80,000 pieces) Material quantity variance Machine hours used (18,900 hours) Actual fixed overhead Actual labor cost Actual labor hours Hidalgo Company's standard costs are as follows: Direct material Direct labor Variable overhead (applied on a machine hour basis) Fixed overhead (applied on a machine hour basis) Determine the following items: 1. material purchase price variance 2. standard quantity allowed for material 3. total standard cost of material allowed 4. actual quantity of material used 5. labor rate variance 6. standard hours allowed for labor 7. total standard cost of labor allowed 8. labor efficiency variance 9. standard machine hours allowed P314,000 P6,400 P60,000 P40, 120 5,900 U 20 pieces @ P4 per piece 1.5 hours @ P6 per hour 4.8 hours @ P2.50 per hour 4.8 hours @ P3 per hour RCR Company has made the following information available for its production facility for the current month. Fixed overhead was estimated at 19,000 machine hours for the production cycle. Actual machine hours for the period were 18,900, which generated 3,900 units. Material purchased (80,000 pieces) Material quantity variance Machine hours used (18,900 hours) Actual fixed overhead Actual labor cost Actual labor hours Hidalgo Company's standard costs are as follows: Direct material Direct labor Variable overhead (applied on a machine hour basis) Fixed overhead (applied on a machine hour basis) Determine the following items: 1. material purchase price variance 2. standard quantity allowed for material 3. total standard cost of material allowed 4. actual quantity of material used 5. labor rate variance 6. standard hours allowed for labor 7. total standard cost of labor allowed 8. labor efficiency variance 9. standard machine hours allowed P314,000 P6,400 P60,000 P40, 120 5,900 U 20 pieces @ P4 per piece 1.5 hours @ P6 per hour 4.8 hours @ P2.50 per hour 4.8 hours @ P3 per hour

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Standard Quantity needed for actual Output is20 pieces3900 Units78000 pieces Actual price per pieceP... View the full answer