ll STOWS variable overhead costs of $16 andards and Variances Saved Help Save & Exit Check my w Required information (The following information applies to the questions displayed below. Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. $4 per Ib.) Direct labor (5 hrs. e$14 per hr.) Factory overhead-variable (5 hrs.@ $8 per hr.) Factory overhead-fixed (5 hrs. $10 per hr.) $120.00 7e.00 40.00 50.00 Total standard cost $ 288.00 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 70% 8e% 42,00e 210,e00 48,000 240,000 90% 54,000 270,000 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $2,400,000 $2,400,000 $2,400,000 $1,680,0ee $1,920,000 $2,160,000 Diirinn tha currant aiartar tha comnanu oneratod at O0% of canacih and nroducad 5A 000 unite of nrnduct actual Prev 9 of 9 Next Co. expects to produce 116.000 units for the year. The company's flexible budget for 116.000 units of production shows variable overhead costs of $ tandards and Variances i Saved Help Save & Exit Check Required information 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 Ibs. $4 per Ib.) Direct labor, (270, eee hrs. $14 per hr.) Factory overhead (270,000 hrs. @$18 per hr.) $ 6,480,00e 3,780,000 4,860,000 Total standard cost $15,120,000 Actual costs incurred during the current quarter follow. Direct materials (1,615,000 Ibs. e $4.10 per lb.) Direct labor (265,e0e hrs. $13.75 per hr.) Fixed factory overhead costs Variable factory overhead costs $ 6,621,500 3,643,750 2,350,eee 2,200,000 $14,815,250 Total actual costs Required: 1. Compute the direct materials cost variance, including its price and quantity variances. el Co. expects to produce 116,000 units for the year. The company's flexible budget for 116,000 units of production shows variable overhead costs of $16... Standards and Variances Saved Help Save & Exit Check my Required information Required: 1. Compute the direct materials cost variance, including its price and quantity variances. Standard Cost Actual Cost