Check Required information Use the following information for the Problems below. (Algo) (The following information applies to the questions displayed below.) Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $4.80 per pound) Direct labor (8 hours @ $16 per hour) Variable overhead (8 hours @ $9 per hour) Fixed overhead (8 hours @ $12 per hour) 96.00 Standard cost per unit $ 440.00 Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 59,000 units per quarter. The following additional information is available $ 144.00 128.00 72.00 Operating Levels 704 80 90% Production (in units) 41,300 47,200 53, 100 Standard direct labor hours (8 DLH/units) 330,400 377,600 424,800 Budgeted overhead (flexible budget) Fixed overhead $ 4,531,200 $4,531,200 $ 4,531,200 Variable overhead $ 2,973,600 $ 3,398, 400 $ 3,823,200 During the current quarter, the company operated at 90% of capacity and produced 53,100 units; actual direct labor totaled 420,800 hours. Units produced were assigned the following standard costs. Direct materials (1,593,000 pounds @ $4.80 per pound) $ 7,646,400 Direct labor (424,800 hours @ $16 per hour) 6,796,800 Overhead (424,800 hours @ $21 per hour) 8,920,800 Standard (budgeted) cost $ 23,364,000 Actual costs incurred during the current quarter follow. Direct materials (1,582,000 pounds @ $5.90 per pound) Direct labor (420,800 hours @ $12.50 per hour) Fixed overhead Variable overhead Actual cost $ 9,333,800 5,260,000 4,297,600 4,023,200 $ 22,914,600 ped ook Problem 23.4A (Algo) Computing materials, labor, and overhead variances LO P3, P4 int ences Required: 1. Compute the direct materials variance, including its price and quantity variances 2. Compute the direct labor variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances Complete this question by entering your answers in the tabs below. Req3 Req Reg 2 Req 3 Volume Controllable Variance Variance Compute the direct materials variance, including its price and quantity variances, (Indicate the effect of each variance by selecting favo Actual Cost Actual quantity Actuat price Actual quantity Standard price Dru !!! Complete this question by entering your answers in the tabs below. Req3 Reg 1 Req 3 Volume Reg 2 Controllable Variance Variance Compute the direct materials variance, including its price and quantity variances. (Indicate the effect of each variance by selecting fave Actual Cost Actual quantity Actual price Actual quantity Standard price x X X Reg 1 Reg 2 Reg 3 Controllable Variance Req 3 Volume Variance Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting favorable Actual Cost $ 0 $ 0 $ Oo 0 ( Req1 Reg 3 Controllable Variance ped Complete this question by entering your answers in the tabs below. OK ht Req3 Reg 1 Reg 2 Req 3 Volume Controllable Variance Variance Compute the overhead controllable variance. (Indicate the effect of the variance by selecting favorable variance.) Inces Controllable Variance Actual total overhead Budgeted total overhead Controllable variance Complete this question by entering your answers in the tabs below. Reg 3 Req 1 Reg 2 Controllable Req 3 Volume Variance Variance Compute the overhead Volume variances. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Volume variance Budgeted total overhead Standard overhead applied Volume variance