Problem No. 3 - Standard CostingCBA Company produced 45,000 units of product K. The entity provided you withadditional information as follows:StandardActualVolume produced (in units)45,000Total materials required/used to produced45,000 units94,50099,000Total material costsP49,500P54,000Total hours6,7505,400Budgeted / Actual payrollP94,500P81,000Requirement: Show computation for the following: -a. Material price varianceb. Material usage variancec. Labor rate varianced. Labor efficiency variance

In standard costing, variances are ascertained which are the difference amount and figures of…

Problem No. 3 - Standard Costing CBA Company produced 45,000 units of product K. The entity provided you with additional information as follows: Standard Actual Volume produced (in units) 45,000 94,500 Total materials required/used to produced 45,000 units 99,000 Total material costs P49,500 P54,000 Total hours 6,750 5,400 Budgeted / Actual payroll P94,500 P81,000 Requirement: Show computation for the following: - a. Material price variance b. Material usage variance C. Labor rate variance d. Labor efficiency variance

Problem No. 3 - Standard Costing CBA Company produced 45,000 units of product K. The entity provided you with additional information as follows: Standard Actual Volume produced (in units) 45,000 94,500 Total materials required/used to produced 45,000 units 99,000 Total material costs P49,500 P54,000 Total hours 6,750 5,400 Budgeted / Actual payroll P94,500 P81,000 Requirement: Show computation for the following: - a. Material price variance b. Material usage variance C. Labor rate variance d. Labor efficiency variance

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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