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The following information pertains to Peter Senen Company's production on a one unit of Product A:
Quantity Price Cost per Unit
Materials-standard 7.5 kgs P0.30/kg P2.25/unit
Labor -standard . 6 hr. 10.00/hr. 6.00/unit
During the period, the company produced 15,000 units of Product A. It purchased 140,000 kgs. of materials at P0.25 per kilo. It incurred direct labor cost of P90,780 at P10.20 per labor hour used. At the end of the period, the company's inventory of materials increased by 25,000 kgs. The company recognizes the material price variance when materials are purchased.
Question 1: How much was the company's material price variance?
Question 2: What was the company's materials quantity variance?
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