.1 Compute the direct material price, direct material quantity, and total direct material cost variances.

2. Compute the direct labor rate, direct labor efficiency, and total direct labor cost variances

3. Compute the variable overhead spending and efficiency variances.

4. Compute the fixed overhead spending and efficiency variances.

ABC & Flexible Budgets-Homework Handout PROBLEM 23-4A (page 1032 in Fundamental Accounting Principles, 23 ed.) Trico Company set the following standard unit costs for its single product: $120 70 40 Direct materials (30 lbs$4 per l Direct labor (5 hrs $14 per hr) Factory overhead-variable (5 hrs $8 per Factory overhead-fixed (5 hrs @ $10 per h Total standard c The predetermined overhead rate is based on planned operating volume of 80% of the productive capacity of 60,000 units per quarter. The following flexible budget information is available. Levels 70% 80% 90% Production in Standard direct labor Budgeted overhead 42,000 210,000 48,000 240,000 54,000 270,000 Fixed factory overhead$2,400,000 $2,400,000 $2,400,000 Variable factory overhead.. $1,680,000 $1,920,000 $2,160,000 During the current quarter, the company operated at 90% of capacity and produced 54,000 units of product; actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs: 6,480,000 3,780,000 4,860,000 15,120,000 Direct materials (1,620,000 lbs @$4 per l Direct labor (270,000 hrse $14 per hr) Factory overhead (270,000 hrs$18 per Total standard c Actual costs incurred during the current quarter follow: 6,621,500 3,643,750 2,350,000 2,200,000 $14.815,250 Direct materials (1,615,000 lbs$4.10 per Direct labor (265,000 hrs$13.75 per Fixed factory overhead c Variable factory overhead Total actual c Required 1. Compute the direct material price, direct material quantity, and total direct material cost variances Compute the direct labor rate, direct labor efficiency, and total direct labor cost variances Compute the variable overhead spending and efficiency variances. 2. 3. 4. Compute the fixed overhead spending and efficiency variances