Problem No. 3 - Standard Costing CBA Company produced 45,000 units of product K. The entity provided you with additional information as follows: Volume produced (in units) Total materials required/used to produced 45,000 units Total material costs Total hours Budgeted / Actual payroll Requirement: Show computation for the following: - a. Material price variance b. Material usage variance c. Labor rate variance d. Labor efficiency variance Standard Actual 45,000 94,500 99,000 P49,500 P54,000 6,750 5,400 P94,500 P81,000