Direct materials (30 pounds Direct labor (6 hours @ $14 Variable overhead (6 hours Fixed overhead (6 hours Standard cost per unit per hour) $4.80 per pound) $144.00 84.00 $7 per hour) 42.00 $9 per hour) 54.00 $ 324.00 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 57,000 units per quarter. The following additional information is available. Production (in units) Standard direct labor hours (6 DLH per unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Operating Levels 70% 39,900 239,400 80% 45,600 273,600 90% 51,300 307,800 $ 2,462,400 $ 1,675,800 $ 2,462,400 $1,915,200 $2,462,400 $ 2,154,600 During the current quarter, the company operated at 90% of capacity and produced 51,300 units; actual direct labor totaled 304,800 hours. Units produced were assigned the following standard costs. Direct materials (1,539,000 pounds @ $4.80 per pound) Direct labor (307,800 hours $14 per hour) Overhead (307,800 hours @ $16 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow. Direct materials (1,519,000 pounds $7.30 per pound) Direct labor (304,800 hours $13.00 per hour) Fixed overhead Variable overhead Actual cost $ 7,387,200 4,309,200 4,924,800 $ 16,621,200 $ 11,088,700 3,962,400 2,337,000 2,187,800 $ 19,575,900 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. Req 1 Req 2 Req 3 Controllable Variance Req 3 Volume Variance Compute the direct materials variance, including its price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places. Actual Cost $ 0 $ 0 $ 0 ces Reg 1 Req 2 Req 3 Controllable Variance Req 3 Volume Variance i Compute the direct labor variance, including its rate and efficiency variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places. Actual Cost $ 0 0 0 $ 0 Standard Cost Complete this question by entering your answers in the tabs below. Req 1 Req 2 Rex 3 Controllable Req 3 Volume Variance Variance Compute the overhead controllable variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Actual total overhead Controllable Variance Budgeted total overhead Controllable variance Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Controllable Variance Req 3 Volume Variance Compute the overhead volume variances. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Budgeted total overhead Volume variance Standard overhead applied Volume variance