PLS ANSWER

18. Comprehensive Variable Analysis. Mindoro Company manufactures a single product, "Tingloy". It uses a standard costing system for its two direct costs (direct materials and direct labor) and its variable manufacturing overhead costs. The standard variable cost of one unit of Tingloy in 2012 is: Direct Materials (10 lbs. at P 0.50 per lb.) Direct Manufacturing Labor (2 hrs. at P 10 per hr.) P5 20 Variable manufacturing overhead (3 machine hrs. at P 5 per hr.) 15 P 40 Total variable cost per unit Fixed manufacturing costs for 2012 are budgeted to be P 400,000. Selected actual results and variances for 2012 are: Production output 100,000 units Direct materials inventory, 1/1/2012 0 Direct materials inventory, 12/31/2012 100,000 lbs. Materials price variance P 24,000 U Materials efficiency variance P 50,000 U Materials labor price variance P 50,000 F Materials labor efficiency variance P 100,000 U Variable manufacturing overhead spending variance Variable manufacturing overhead efficiency variance Fixed manufacturing overhead spending variance Output level (production volume) variance Required: Compute the following items: 1. Direct materials purchased in pesos. 2. Direct materials purchased in pounds. 3. Average price paid per pound of direct material. P 50,000 F P 150,000 U P 30,000 U 4. Direct materials used in pesos. 5. Direct materials used in pounds. 6. Direct manufacturing labor used in pesos. 7. Direct manufacturing labor used in DLH. 8. Average rate paid per DLH. 9. Actual variable overhead in pesos. 10. Machine-hours used. 11. Average variable manufacturing overhead rate per machine-hour. 12. Actual fixed manufacturing overhead in pesos. 13. Planned production level in units. 14. Planned production level in machine-hours.