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Given information about the operations of the company Standard material price per kilo, P30.00 Standard labor rate per hour, P40.00 Standard material quantity per unit, 4 kilos Standard labor efficiency per unit, 2 hour Standard material cost is Standard labor cost is Actual material price per kilo, P 35.00 Actual labor rate per hour, P 50.00 Actual material quantity per unit, 6 kilos Actual labor efficiency per unit, 3 hours Actual material cost is Actual labor cost is Compute the material price and quantity Compute for the labor rate and time variance