The following information applies to Buljok Full Shirt Mfg. Co. Standard Data Per unit Material - 3 pieces at Php2 per piece Php 6 Labor - 2 hours at Php3 per hour Php 6 Actual Data: Material - 25, 000 pieces of material were purchased at Php 2.10 per piece. 24,000 pieces of material were used. Labor - 17,000 hours at Php2.50 per hour Determine the material price variance. Php2.500 (Favourable) O Php2400 (Unfavourable) Php2.400 (Favourable) CO Php2,500 (Unifavourable)

nformation about direct materials cost follows for a local company:          Standard price per materials gram $ 20   Actual quantity used   2,760 grams Standard quantity allowed for production   2,900 grams Price variance $ 19,320 F     Required: What was the actual purchase price per gram?

You have collected the standard cost card for one unit of the ‘Zeus’ which was in operation in the just ended period, details of which follow below:                                                                                                                  K             Materials                     7kg at K35.00                                     245.00             Labour                         20 hours at K12.00                             240.00             Variable overheads     20 hours at K8.00                               160.00             Fixed overheads          20 hours at K15.00                             300.00                                                                                                                                                 945.00             Selling price                                                                            1,500.00             Profit…

The standard cost card for product Alpha is as follows:       £ Direct material 5kg@ £11.50 per kg 57.50 Direct Labour 4 labour hours @£9 per hour 36.00     93.50 In the period just ended 3,000 units were produced and costs were incurred as follows:     Quantity Cost (£) Direct material 15900kg 180465 Direct labour 11550 hours 106260     286725 Required: Calculate the direct materials price variance for product Alpha. Calculate the direct labour rate variance for product Alpha. Explain the factors that need to be taken into account when deciding to investigate a variance.