irico Company set the following standara unit costs for its single product. Direct materials (30 Ibs. @$4.80 per Ib.) Direct labor (7 hrs. @ $14 per hr.) $144.00 98.00 Factory overhead-Variable (7 hrs. @ $6 per hr.) Factory overhead-Fixed (7 hrs. $9 per hr.) 42.00 63.00 $347.00 Total standard cost The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 64,000 units per quarter. The following flexible budget information is available. Production in units Standard direct labor hours Budgeted overhead. Fixed factory overhead Variable factory overhead Operating Levels 70% 44,800 313,600 80% 90% 51,200 358,400 57,600 403,200 $3,225,600 $3,225,600 $3,225,600 $1,581,600 $2,150,400 $2,419,2001 During the current quarter, the company operated at 90% of capacity and produced 57,600 units of product; actual direct labor totaled 400,200 hours. Units produced were assigned the following standard costs.