PROBLEM 1 The following are given: Standard unit price Actual quantity purchased Standard quantity allowed for actual production Materials purchase price variance Required: 3.60 1,600 1,450 240 1. Determine the actual purchase price per unit of materials PROBLEM 2 The following are given: Standard rate Actual rate paid Standard hours allowed for actual production Labor efficiency variance Required: 1. Determine the actual hours worked 6 per hour 6.10 per hour 1,500 hours 600UF References: Cost Accounting by Guillermo by De Leon Et. Al 2019 Edition Management Accounting by EB Cabrera 2018 edition Practical Accounting 2 by Antonio Dayag 2018 edition Reviewer in Practical Accounting 2 by Pedro Guerrero 2018 Edition