Exercise 8 Mojo Co. makes zippos out of a material called ladi. During the month, Mojo made 20 zippos using 58 kilos of ladi. The ladi cost 12760 Yen. During the month, Mojo also incurred a direct labor cost of 22000 Yen having worked 16 direct labor hours. Company standards show each zippo requires 3 kilos of ladi at a cost of 200 Yen per kilo. It should take 1 hours of direct labor to make one zippo at a standard labor rate of 1000 Yen per hour What is the actual price of material per kilo? What is the standard quantity given the number of zippos produced? What is the amount of material price variance? Is the MPV favorable or unfavorable? What is the amount of material quantity (efficiency) variance? Is the MQV favorable or unfavorable? What is the actual labor rate? What is the standard hours allowed for the number of zippos made? What is the amount of labor rate (price) variance? Is the LRV favorable or unfavorable? What is the amount of labor efficiency (quantity) variance? Is the LEV favorable or unfavorable