Actual quantity of materials used Standard price per unit of material Material price variance at the point of usage Total material variance Standard rate of labor per hour Labor efficiency variance Total labor variance 1,800 unit P5.7 P1,260.0 P2,400.0 P16.0 P16,000.0 P64,000.0 41,000 hour P52,000.0 P37,000.0 600 hour Total standard labor hours Actual variable overhead Actual fixed overhead Actual hours related to variable costs Standard hours related to fixed overhead 650 hour Budgeted fixed overhead Total spending variance Total overhead efficiency variance Volume variance P35,000.0 P6,000.0 P4,000.0 P2,500.0

Actual quantity of materials used Standard price per unit of material Material price variance at the point of usage Total material variance Standard rate of labor per hour Labor efficiency variance Total labor variance 1,800 unit P5.7 P1,260.0 P2,400.0 P16.0 P16,000.0 P64,000.0 41,000 hour P52,000.0 P37,000.0 600 hour Total standard labor hours Actual variable overhead Actual fixed overhead Actual hours related to variable costs Standard hours related to fixed overhead 650 hour Budgeted fixed overhead Total spending variance Total overhead efficiency variance Volume variance P35,000.0 P6,000.0 P4,000.0 P2,500.0

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 23E: (Appendix) Calculating factory overhead: three variances Using the data given in E8-17, calculate...

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