Given information about the operations of the company Standard material price per kilo, P30.00 Standard material quantity per unit, 4 kilos Standard material cost is Actual material price per kilo, P 35.00 Actual material quantity per unit, 6 kilos Actual material cost is Compute the material price and quantity Standard labor rate per hour, P40.00 Standard labor efficiency per unit, 2 hour Standard labor cost is Actual labor rate per hour, P 50.00 Actual labor efficiency per unit, 3 hours Actual labor cost is Compute for the labor rate and time variance