MingMing Corporation uses a standard cost system and has established the following standards for one unit of product MingPink: Standard Quantity Standard Price Direct Materials 5 kilograms Php 2.60 per kilogram Direct Labor .25 hour Php 110 per hour During August, the company purchased and used 94,250 kilograms (at P 2.70 per kilogram) to produce 18,750 units of MingPink. Accordingly, the units were manufactured consuming 4,750 hours of direct labor paid at P 105.00 per hour.

Required: For direct material, compute for the following: (a) material price variance =

(b) material quantity variance =

(c) material spending variance. =

For direct labor, compute the following: (d) direct labor rate variance =

(e) direct labor efficiency variance =

(f) direct labor spending variance =