1:29 Cl {-7 N it-13,2 mull": If: 6 BSA Costing Accounting Final BSA Costing Accounting Final Examination * Required Standard Costing Multiple Choice. Select the best answer. Use this problem to answer the following questions. (Modied from Cost Accounting, De Leon, 2019) The SC Company's standard costs for a unit of book shelf are: Wood, 25 pounds at P6.40 per pound; Trim, 8 pounds at P10 per pound; Direct labor, 5 hours at P12 per hour; Variable overhead, P30 per unit; Fixed overhead, P260000 per period, applied at the rate of P20 per unit. In May 2022 transaction were as follows: 320,000 pounds of wood were purchased at P6.50 per pound; 100,000 pounds oftrim were purchased at P960 per pound; 310,000 pounds of wood and 97,000 pounds of trim were issued to production. Direct labor incurred was 62,000 hours at an average cost of P11.50 per hour. Overhead costs were P604,000, of which P362,000 were variable. Twelve thousand units of book shelves were produced during May. 27. What is the total wood and trim price vanance? 1k (2 Points) 0 P 8,000 Unfavorable 0 1372.000 Unfavorable 1:29 0 9 N .1 0.97 35 BSA Costing Accounting Final ... JOSH COMM. WORKS O P24,000 Favorable P 7,000 Unfavorable 29. In one-way overhead variance analysis, what is the amount of over- or underapplied overhead? * (1 Point) O P 2,000 underapplied O P 2,000 overapplied O P 4,000 underapplied O P 4,000 overapplied 30. In the two-way overhead variance analysis, what is the overhead volume variance? * (3 Points) OP20.000 Unfavorable O1:29 0 9 N .1 3.00 KB/S coull ul 35 BSA Costing Accounting Final .. JOSH COMM WORKS 27. What is the total wood and trim price variance? * (2 Points) O P 8,000 Unfavorable P72,000 Unfavorable P72,000 Favorable O P 8,000 Favorable 28. What is the labor efficiency variance? * (2 Points) O P 7,000 Favorable O P24,000 Unfavorable O P24,000 Favorable O P 7,000 Unfavorable O