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Please answer any of the problems thank you Problem 4 (Direct Labor Variances): Selected data for Waray Company is as follows: Standard Wage Rate: P5.00
Please answer any of the problems thank you
Problem 4 (Direct Labor Variances): Selected data for Waray Company is as follows: Standard Wage Rate: P5.00 Actual Wage Rate: P4.75 Labor efficiency variance: P400 favorable Standard hours allowed for actual production: 7,500 Required: 1. Calculate the actual hours worked rounded to the nearest hour. 2. How much is the total rate variance and total labor variance? Problem 6 (Direct Materials and Direct Labor Variance): Negros Corporation has the following data at the end of its operating period: Direct materials purchases (the same quantity was used) P 216,600 Total Direct labor paid 209,000 Total direct materials variance P 23,400 favorable Direct materials price variance 11,400 favorable Standard Direct Materials price per pound P4.00 Direct labor rate variance 11,000 favorable Total Direct labor variance 31,000 favorable Standard Direct labor rate per hour P10.00 Standard Direct labor hours per unit produced 2 hours Required: 1. How many units were produced during the period? 2. How many pounds of direct materials were actually purchased and used during the period? 3. What is the standard quantity per pound of direct materials per unit produced? 4. How many direct labor hours were actually utilized during the period? 5. How much is the actual rate per hour of direct laborStep by Step Solution
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