1. Compute the direct materials cost variance, including its price and quantity variances.

2. Compute the direct labor cost variance, including its rate and efficiency variances.

3. Compute the overhead controllable and volume variances.

Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. $5.10 per Ib.) Direct labor (4 hrs. $15 per hr. 60.00 Factory overhead-variable (4 hrs. e $6 per hr.) Factory overhead-fixed (4 hrs. $11 per hr.) Total standard cost $153.00 24.00 44.00 $281.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 68,000 units per quarter. The following flexible budget information is available Operating Levels Production in units Standard direct labor hours Budgeted overhead 70% 47,600 190,400 80% 54,400 217,600 90% 61,200 244,800 Fixed factory overhead Variable factory overhead $2,393,600 $2,393,600 $2,393,600 $1,142,400 $1,305,600 $1,468,800 During the current quarter, the company operated at 90% of capacity and produced 61,200 units of product; actual direct labor totaled 239,800 hours. Units produced were assigned the following standard costs. Direct materials (1,836,000 Ibs. 2 $5.10 per Ib.) Direct labor (244,800 hrs. $15 per hr.) Factory overhead (244,800 hrs. e $17 per hr.) Total standard cost $9,363,600 3,672,000 4,161,600 $17,197,200 Actual costs incurred during the current quarter follow Direct materials (1,826,000 Ibs. e $6.70 per lb.) Direct labor (239,800 hrs. 6 $12.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs 12,234,200 2,877,600 1,942,800 1,818,800 $18,873,400