The following information was provided to you by Charice Standard Company: 1,800 units Actual quantity of materials used Standard price per unit of material Material price variance at the point of...

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Compute for the following:

1. Actual labor rate per hour

2. Actual labor hours utilized

3. Labor rate variance

Extracted text: The following information was provided to you by Charice Standard Company: 1,800 units Actual quantity of materials used Standard price per unit of material Material price variance at the point of usage P5.70 P1,260.00 F P2,400.00 F Total material variance Standard rate of labor per hour Labor efficiency variance Total labor variance P16.00 P16,000.00 F P64,000.00 U 41,000 hours P52,000.00 P37,000.00 Total standard labor hours Actual variable overhead Actual fixed overhead Actual hours related to variable costs 600 hours Standard hours related to fixed overhead 650 hours Budgeted fixed overhead Total spending variance Total overhead efficiency variance Volume variance P35,000.00 P6,000.00 U P4,000.00 F P2,500.00 U