i really do not understand why im getting it wrong! please help me im so lost!
Required information Use the following information for the Problems below. [The following information applies to the questions displayed below.) Trico Company set the following standard unit costs for its single product. Direct materials (30 lbs. 54 per tb.) Direct labor (5 hrs. $14 per hr.) Factory overhead-Variable (5 hrs. $8 per hr.) Factory overhead-Pixed (5 hrs. $10 per hr.) Total standard cost $120.00 70.00 40.00 50.00 $280.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 60,000 units per quarter. The following flexible budget information is available. Operating Levels 701 808 908 42,000 48,000 54,000 210,000 240,000 270,000 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $2,400,000 $2,400,000 $2,400,000 $1,680,000 $1,920,000 $2,160,000 During the current quarter, the company operated at 90% of capacity and produced 54,000 units of product; actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs. Direct materials (1.620,000 Tbs. S4 per tb. ) Direct labor (270,000 hrs. $14 per hr.) Factory overhead (270,000 hrs. $18 per hr.) Total standard cost S 6,480,000 3,780,000 4,860,000 $15, 120,000 Actual costs incurred during the current quarter follow. Actual costs incurred during the current quarter follow. Direct materials (1,615,000 Tbs. e $4.10 per lb.) Direct labor (265,000 hrs. e $13.75 per hr.) Fixed factory overhead costs Variable factory overhead coats Total actual costs $ 6,621,500 3,643,750 2,350,000 2,200,000 $14, 815,250 Problem 08-4A Computing materials, labor, and overhead variances LO P3, P4 Required: 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 3 Req 3 Volume Red 1 Reg 2 Controllable Variance Variance Compute the controllable variance (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) Controllable Variance Actual overhead $3,380,000 Budgeted overhead $ 3.880 800 Controlable $ 500.800 variance Favorable Required: 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 3 Reg 1 Req 3 Volume Reg 2 Controllable Variance Variance Compute the volume variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) Fixed overhead volume variance Budgeted fixed overhead $2,400,000 Fixed overhead cost applied $2,100,000 & Fixed overhead volume $ 300,000 variance Favorable
