The following are the production standards:
Direct Material (brass)
Direct Labor
Variable Manufacturing overhead
Actual results for August 2022 are as follows:
Production
Direct Material Purchased
Direct Materials Used
Direct Labor
Variable Manufacturing overhead
Input
0.3 lb at P100/lb
1.2 hrs at P200/hr
P60/lb x 0.3 lb
35,000 sculptures
12,000 lb at P110/lb
10,450 lbs
38,500 hrs for P8,085,000
P641,500
P
Cost/
Sculpture
30.00
240.00
18.00