0 Required information The following information applies to the questions displayed below Trico Company set the following standard unit costs for its single product Direct materials (30 Ibs.$5.10 per Ib.) Direct labor (8 hrs . e $15 per hr.) Factory overhead-variable (8 hra. $6 per hr. Factory overhead-fixed (8 hrs. $9 per hr. Total standard cost $153.00 120.00 48.00 72.00 $393.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 65 units per quarter. The following flexible budget information is available Operating Levela 80% 901 58,500 468,000 70 Production in units Standard direct labor hours Budgeted overhead 2,000 364,000 416,000 5,500 Pixed factory overhead Variable factory overhead 3,744,000 $3,744,000 $3,744,000 2,184,000 $2,496,000 $2,B08,000 During the current quarter, the company operated at 90% of capacity and produced 58,500 units of product actual direct labor totaled 465,000 hours. Units produced were assigned the following standard costs pirect naterialo (1,755,000 bs. 5.rO per Ib.) Direct labor (468,000 hrs. $15 per hr.) Factory overhead (468,000 hrs.$15 per hr.)7,020-000 Total standard cost $8,950,500 7,020,000 $22,990,500 Actual costs incurred during the current quarter follow