The Big G. Company builds wooden bookshelves wall units. The companys standard costs are:

Wood 25 pounds at P6.40 per pound

Trim 8 pounds at P10 per pound

Direct labor 5 hours at P12 per hour

Variable overhead P30 per unit

Fixed overhead P130,000 per period, applied at the rate of

P20 per unit

A recent months transactions were: 160,000 pounds of wood were purchased at P6.50 per pound; 50,000 pounds of trim were purchased at P9.60 per pound; 155,000 pounds of wood were issued to production; 48,500 pounds of trim were issued to production. Direct labor incurred was 31,000 hours at an average unit cost of P11.50 per hour. Overhead cost were P302,000, of which P181,000 were variable. Six thousand units were produced during the month.

Required:

1. What is the total actual cost of wood purchased?

2. What is the total standard cost of wood?

3. What is the wood price variance?

4. What is the total actual cost of trim purchased?

5. What is the trim price variance?

6. What is the trim efficiency variance?

7. What is the direct labor price variance?

8. What is the direct labor efficiency variance?