25. The total cost assigned to job 777C is P24,000 which includes direct materials cost of P6,000. The factory overhead is applied to work in process at 150% of direct labor cost. What is the amount of direct labor cost charged and factory overhead applied to job 777C?

a. 9,600 and P14,400, respectively

b. P6,000 and P12,000, respectively

c. P7,200 and P10,800, respectively

d. P4,800 and P72,200, respectively

26. Joyous Company purchases 12,000 pounds of materials. The materials price variance is P6,000 favorable. What is the difference between the standard and actual price paid for the materials?

a. P1.00

b. P0.50

c. P2.00

d. P6.00