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5. Materials and labor costs variances. During the most recent month, the following activities were recorded by Pampanga Company relative to its product Mekeni. a.
5. Materials and labor costs variances. During the most recent month, the following activities were recorded by Pampanga Company relative to its product Mekeni. a. Thirty thousand ounces of material Karen were purchased at a cost of P2 .45 per ounce. Twenty eight thousand ounces were used to produce 4,500 units of Mekeni. b. Forty three thousand of direct labor hours were recorded at a total labor cost of P4,515,000. The standard direct materials and direct labor cost per unit of Mekeni are given below: Standard quantity or hours per unit Standard price or rate cost Standard per unit Direct materials 7 02. P 2.50 per 02. P 17.50 Direct labor 10 hrs. 11.00 per hr. 110.00
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