The following data were taken from the books of X co. during the month of December:
(in peso)
a. Produced and sold 50,000 plastic round containers at a sales price of p10 each.
(Budgeted sales were 45,000 units for Php10.15)
b. Standard variable cost per unit:				units
	DM	(2 lbs. at php1)		2
	DL	(.10 hours at php15)		1.5
	Variable Manu Overhead
		(.10 hours at p5)		0.5
				4	per unit
c. Fixed manu overhead cost
	monthly budget			80,000
d. Actual production costs
	DM purchased
	(200,000 pounds at 1.20)			240,000.00
	DM used
	(110,000 pounds at 1.20)			132,000.00
	DL
	(6,000 hours at 14			84,000.00
	Variable Overhead			28,000.00
	Fixed Overhead			83,000.00
REQUIRED:

QUESTIONS:

1. Compute Direct Materials and Labor and variable manufacturing overhead price and efficiency variances.

2. Compute the fixed manufacturing overhead price (spending) variance.