Reference no: EM133178978

Questions -

A. Information on Celine Co. direct material costs for May follows: Actual quantity of direct materials purchased and used 30,000 pounds Actual cost of direct materials P84,000 Unfavorable direct materials quantity variance P3,000 Standard quantity of direct materials allowed for May production 29,000 pounds

Required -

1. What is the standard price of materials?

2. What is the budget allowed for materials?

3. What is the actual price of materials?

4. For the month of May, what was Celine Co.'s direct materials price variance?

B. Alfred Inc.direct labor costs for the month of January were as follows: Actual total direct labor-hours 20,000 Standard total direct labor-hours 21,000 Direct labor rate variance-unfavorable P3,000 Total direct labor cost P126,000.

Required -

1. What was direct labor efficiency variance?

2. What was standard labor cost?

3. What was ACTUAL direct labor RATE?

4. What was BUDGET ALLOWED FOR LABOR COST?

5. What was STANDARD direct labor RATE?

C. Rubiks has the following information for the 3rd quarter of 2021: actual factory overhead P374,850 budget formula_231,000_+_1.20/hour spending variance (3 way) 16,000 unfavorable volume variance (2 way) P10,500 overall (total) factory overhead variance 12,600.

Required -

1. Determine standard hours worked during the 3rd quarter.

2. Determine actual hours worked during the 3rd quarter.

3. Determine budget allowed based on standard hours (bash).

4. EFFICIENCY VARIANCE?

5. Determine budget allowed based on actual hours (BAAH).