Question 5 of 10 1 Point Under the standard cost system, the materials quantity variance was recorded at P500 unfavorable, the materials price variance was recorded at P1,620 favorable, and the Goods in Process was debited for P43,120. The actual materials used were 42,000 units at: Select the correct response: O P0.01 each O P0.0988 each O P0.10 each O P1.00 each Question 7 of 10 1 Point The Big Company's expected production volume was 36,000 units at 9,000 hours of labor. The variable overhead rate is P5 per hour. Actual variable overhead was P41,000 for 32,000 units of production at 8,500 hours of labor. Which of the following is correct? Select the correct response: Spending variance, P1,500 unfavorable; efficiency variance, P2,000 unfavorable Spending variance, P1,500 unfavorable; efficiency variance,P2,500 favorable Spending variance, P1,500 favorable; efficiency variance, P2,500 unfavorable Spending variance, P2,000 favorable; efficiency variance, P2,500 unfavorable