Question 35 1 pts The U.R. Good Company produces a product using standard costs as follows: a. Standard cost per unit Materials 7 kilos at P 3.50 per kilo Labor 8 hours at P 1.75 per kilo P 1.15 per hour or p 9.20 per Fixed MOH unit P 0.85 per hour or P 6.80 per Variable MOH unit b. Overhead is applied on direct labor hours C. Actual performance (1 month) Volume produced 800 Labor hours 6300 C. Actual performance (1 month) Volume produced 800 Labor hours 6,300 Overhead P13,200 Material Cost P 3.45 per kilo Labor Cost P 1.80 per hour Material Used 4,800 kilos The Labor Rate Variance is OP 175 Favorable OP 315 Unfavorable O P 500 Unfavorable P 400 Favorable