Staff Company uses a standard cost system. Information for raw materials for Product RB for the...

  

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Staff Company uses a standard cost system. Information for raw materials for Product RB for the month of October is as follows: Standard unit price Actual purchase price per unit Actual quantity purchased Actual quantity used Standard quantity allowed for actual production 14.. What is the material purchase price variance? Information on Marvin Company's direct materials costs is as follows: Actual units of direct materials Actual direct materials cost Standard price per unit of direct materials Direct material efficiency variance (favorable) 15. Marvin Company's direct material price variance was -P1.6 P1.5 2,000 unit 1,900 unit 1,800 unit 20,000 P 40,000 P 2.10 P 3,000 . Wham produces one product only, Whammy, and uses the standard cost system. The direct labor standard cost of Whammy is 1.5 hours at P180.00 per hour. The actual hours used is 1,000 hours at P183.00 per hour. The company produced 500 units. 19. What is the unfavorable direct labor efficiency variance? Nicole Company uses a standard costing system in connection with the manufacture of a "one size fit all" article of clothing. Each unit of finished product contains 2 yards of direct materials. However, a 20% direct material spoilage calculated on input quantities occur during the process. The cost of direct material is P3.00 per yard. 20. The standard direct material cost per unit of finished product is Nikki Agri. makes and sells a lawn fertilizer called Fastgro. The company has developed a standard costs for one bag of Fastgro as follows: Item Direct materials Direct labor Variable overhead Standard Quantity 20 pounds 0.1 hours 0.1 hours The company had no beginning inventories of any kind on January 1. Variable overhead is applied to production on the basis of direct labor hours. During January, the following activity was recorded by the company. Direct materials purchased Direct labor hours worked Actua' Variable Mfg. Overhead Production of Fastgro Inventory of direct materials- Jan. 31 21. The material price variance for January is 22. The material quantity variance for January is 23. The labor rate variance for January is Std. Cost/bag P8.00 1.10 0.40 85,000 pounds at a cost of P32,300 390 hours at a cost of P 4,875 P1,475 4,000 bags 3,000 pounds 24. The total variance for variable overhead for January is Staff Company uses a standard cost system. Information for raw materials for Product RB for the month of October is as follows: Standard unit price Actual purchase price per unit Actual quantity purchased Actual quantity used Standard quantity allowed for actual production 14.. What is the material purchase price variance? Information on Marvin Company's direct materials costs is as follows: Actual units of direct materials Actual direct materials cost Standard price per unit of direct materials Direct material efficiency variance (favorable) 15. Marvin Company's direct material price variance was -P1.6 P1.5 2,000 unit 1,900 unit 1,800 unit 20,000 P 40,000 P 2.10 P 3,000 . Wham produces one product only, Whammy, and uses the standard cost system. The direct labor standard cost of Whammy is 1.5 hours at P180.00 per hour. The actual hours used is 1,000 hours at P183.00 per hour. The company produced 500 units. 19. What is the unfavorable direct labor efficiency variance? Nicole Company uses a standard costing system in connection with the manufacture of a "one size fit all" article of clothing. Each unit of finished product contains 2 yards of direct materials. However, a 20% direct material spoilage calculated on input quantities occur during the process. The cost of direct material is P3.00 per yard. 20. The standard direct material cost per unit of finished product is Nikki Agri. makes and sells a lawn fertilizer called Fastgro. The company has developed a standard costs for one bag of Fastgro as follows: Item Direct materials Direct labor Variable overhead Standard Quantity 20 pounds 0.1 hours 0.1 hours The company had no beginning inventories of any kind on January 1. Variable overhead is applied to production on the basis of direct labor hours. During January, the following activity was recorded by the company. Direct materials purchased Direct labor hours worked Actua' Variable Mfg. Overhead Production of Fastgro Inventory of direct materials- Jan. 31 21. The material price variance for January is 22. The material quantity variance for January is 23. The labor rate variance for January is Std. Cost/bag P8.00 1.10 0.40 85,000 pounds at a cost of P32,300 390 hours at a cost of P 4,875 P1,475 4,000 bags 3,000 pounds 24. The total variance for variable overhead for January is

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