Chapter 21 6 4 Required information The following information applies to the questions displayed below Trico Company set the following standard unit costs for its single product Part 1 Direet materials 130 s $4.00 per tb.) Pirect labor 17 hrs. 514 per he. Factory overhead-variable (7 hrs. 7 per hr) Factory overhead-fixed 17 hrs. $11 per hr. Total standard coat The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 63,000 units per quarter The following flexible budget information is avaliable Standard direet Labor hours Budgeted overhead 0, 700 52, 9 3,so,80s 53.80,800 $3,880,800 During the current quarter, the company operated at 90% of c labor totaled 393.900 hours. Units produced were assigned the following standard costs apacity and produced 56.700 units of product actual direct DLr eet "ateria. t.,01.000 lb. 84.00 per 556.60 Factory overhead i)36.900 hrs. $11 Per hr.) C Prev 4 5 or Next> MacBook Air 4 Chapter 21 4 Required information Part 1 of 2 Actual costs incurred during the current quarter follow irect naterials 1 686,000 bs. .10 per 1b)8598-60 Direct labor 1393,909 hrs12.08 per hr. Variable factory overhead eosts Required 1 Compute the direct materials cost variance, including its price and quantity variances AQ Actual Quantity SO Standaed Quentity References AP Actual Price SP Standard Price MacBoolk 8% 4 Chapter 21 4 Required informatien Part for 2 2Compute the direct labor cost variance, including its rate and efficiency variances AH Actual Hours SH Standard Hours AR Actual Rate SR Standard Rate 10 3. Compute the overhead controilable and volume variances esc Chapter 21 4 0 Part 1 of 2 3. Compute the overhead controillable and volume variances 10 points Print Fixed overhead cost applied Fixed overhead volume variance 5 Part 2 of 2 10 (a) Compute the variable overhead spending and efficiency variances (Round "cost per unit and "vate per hour" answvers to 2 decimal places. AH Actual Hours SH-Standard Hours AVR Actual Variable Rate SVR Standard Variable Rate b) Compute the fixed overhead spending and volume variances. (Round "cost per unit and "rate per hous places) Prev 5of5 Next Chapter 21 Help Save&E 5 compute the bed overhead spending and volume variances"Rond "cost per unit" and "rate per hour" answers to 2 deci nal Part 2 of 2places AH Actual Hours SH Standard Hours AFR Actual Fixed Rate FR-Standard Fised Rate 10 (c) Compute the total overhead controllable variance