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Find the direct labor efficiency variance for April

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Reference no: EM132776312

Question - Superior Company, which started business on April 1, uses a standard cost system in accounting for manufacturing costs. The standard costs for a unit of its product are:

Materials: 2 units at P3 per kilo P6.00

Labor: 1 hour at P4 per hour 4.00

Factory overhead: 75% of direct labor cost 3.00

= P13.00

Following data were gathered from Superior's records for April:

Units produced 5,000

Units sold 4,000

Sales P100,000

Purchases (11,000 kilos) P 38,500

Materials price variance (applicable to April purchases) P550 unfavorable

Actual quantity of materials used 10,500 kilos

Actual labor hours worked 4,800 hours

Direct labor rate variance P800 favorable

Factory overhead total variance P500 unfavorable

Required -

a. Find the material quantity variance for April?

b. Find the direct labor efficiency variance for April?

c. Find the actual factory overhead for April?

Reference no: EM132776312

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