Direct materials 24 m x $2 per metre = $48.00 Direct labour 3.10 hours x $12 per hour = $37.20 During February, Pharoah Inc. worked on three separate orders of garden hoses. Job cost records for the month disclose the following: Lot Units in Lot Materials Used Hours Worked 4503 1,000 dozen 24,100 m 2,940 4504 1,500 dozen 36,150 m 5,200 4505 2,900 dozen 69,890 m 2,850 You have been able to gather the following information: 1. Pharoah Inc. purchased 110,000 m of material during February at a cost of $242,000. The materials price variance is recorded when goods are purchased, and all inventories are carried at standard cost. 2. The payroll department reported that production employees were paid $12.30 per hour. 3. There was no beginning work in process. During February, lots 4503 and 4504 were completed, and all materials were issued for lot 4505, which was 60% complete in terms of labour. 4. Pharoah Inc. applies fixed and variable overhead based on machine hours. Below are the results for Pharoah Inc. for the month of February cost. 2. The payroll department reported that production employees were paid $12.30 per hour. 3. There was no beginning work in process. During February, lots 4503 and 4504 were completed, and all materials were issued for lot 4505, which was 60% complete in terms of labour. 4. Pharoah Inc. applies fixed and variable overhead based on machine hours. Below are the results for Pharoah Inc. for the month of February: The normal activity in machine hours 39,300 Flexible budget variable overhead per machine hour $2.60 Actual variable overhead cost incurred 111,020 Actual fixed overhead cost incurred 301,080 Variable overhead cost applied to production 111,540 Variable overhead efficiency variance (unfavourable) 8,060 Fixed overhead budget variance (unfavourable) 2,400 The labour price, efficiency, and total variances. Labour price variance $ Labour efficiency variance $ ta