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Jasper Company, producer of a single product, made the following summary JOURNAL ENTRIES during July 2000.[ENTRY 1] (dr) Raw materials Inventory - P50,000 (dr) Material

Jasper Company, producer of a single product, made the following summary JOURNAL ENTRIES during July 2000.[ENTRY 1] (dr) Raw materials Inventory - P50,000 (dr) Material Purchase Price Variance - P250(cr) Accounts Payable - P50,250[ENTRY 2] (dr) Work in Process Inventory - P30,000(cr) Materials Quantity Variance - P200(cr) Raw Materials Inventory - P29,800[ENTRY 3] (dr) Work in Process Inventory - P12,000(dr) Direct Labor Efficiency - P400(cr) Direct Labor Rate Variance - P62(cr) Wages Payable - P12,338[ENTRY 4] (dr) Work in Process Inventory - P6,000(cr) Overhead Applied - P6,000[ENTRY 5] (dr) Overhead Control - P6,100(cr) Accumulated Depreciation - P2,500(cr) Accounts Payable - P2,000(cr) Prepaid Insurance - P100(cr) Wages Payable - P1,500[ENTRY 6] (dr) Finished Goods Inventory - P48,000(cr) Work in Process Inventory - P48,000 The STANDARD COST CARD for Legitimes Company's product is as follows:Raw materials (15 lbs. @ P2 per lb) - P30Direct labor (3 hrs @ P4 per hr) - P12Overhead (3 hrs @ P2 per hr) - P6Total - P48.

Answer the ff:

  1. The direct materials purchased during the period is ___ lbs.
  2. How many units were produced during the period?
  3. The average wage rate for the hours actually worked is P___ per hour.
  4. The direct labor hours actually worked is ___ hrs.
  5. The direct materials actually used is ___ lbs.

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