Reference no: EM132929709

XYZ Company has the following data:

Budgeted Production 1,200 units

Budgeted fixed overhead P120,000

Direct labor standard per unit 1.5 hours @ P50 per direct labor hour

Direct material standard per unit 0.5 kg @ P23 per kilo

Standard variable overhead P30 per direct labor hour

Actual production 1.150 units

Actual fixed overhead P121,000

Actual direct labor 1,800 hours @ P90,000

Actual direct materials 690 kg @ P15,525

Actual variable overhead P55,800

Problem 1: Compute the material purchase and material quantity variance.