Help 3 Check Required information (The following information applies to the questions displayed below) Trico Company set the following standard unit costs for its single product t1 of 2 Direct materials (30 lbs. $5.00 per Ib.) Direct labor (7 hrs. $14 per hr) Factory overhead-variable (7 hrs. $7 perhe Factory overhead-fixed (7 hrs. $9 per hr.) Total standard cost $ 150.00 98.00 49.00 63.00 $360.00 Book rint ences The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 61,000 units per quarter. The following flexible budget information is available Operating Levels 7ex sex 90% Production in units 42,700 48,800 54,900 Standard direct labor hours 298,900 341,600 384,300 Budgeted overhead Fixed factory overhead $3,074,400 $3,074,480 $3,074,400 Variable factory overhead $2,092,300 $2,391,200 $2,690,1ee LM fe w C 994 to search Check my w During the current quarter the company operated at 90% of capacity and produced 54 900 units of product actual direct labor totaled 316 300 hours Units produced were assigned the following standard costs Direct materials (1,647,260 Ibs.55.ee per Ib.) Direct labor (384,388 hrs. $14 per hr.) Factory overhead (384,300 hrs. $16 per hr.) Total standard cost $ 3,235,000 5,380,200 6,148,800 $19,764,000 Actual costs incurred during the current quarter follow, Direct materials (1,364, eee Ibs. $7.80 per lb.) Direct labor (316, 300 hrs. @ $11.10 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,639,200 3,518,930 2,348,400 2.742,200 $19, 240,730 Required: 1. Compute the direct materials cost variance, including its price and quantity variances 3 4 of 6 SA G 11 22 1 U 3 Required: 1. Compute the direct materials cost variance, including its price and quantity variances Port 10 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP Standard Price 666 points Standard Cost Actual Cost cool $ $ References 0 S 0 0 week 3 omework Saved Help Sove C 3 Required information 2. Compute the direct labor cost variance, including its rate and efficiency variances Part 1 of 2 AH = Actual Hours SH - Standard Hours AR Actual Rate SR = Standard Rate 6.66 points Actual Cost Standard Cost book Heferences $ 0 $ 0 $ 0 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance