O Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $4.80 per pound) $ 144.00 Direct labor (7 hours@ $14 per hour) 98.00 Variable overhead (7 hours @ $6 per hour) 42.00 Fixed overhead (7 hours @ $9 per hour) 63.00 Standard cost per unit $ 347.00 OOverhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of O the company's capacity of 67,000 units per quarter. The following additional information is available. Operating Levels 80% 70% Production (in units) 53,600 90% 60,300 422,100 Standard direct labor hours (7 DLH/unit) 375,200 Budgeted overhead (flexible budget) Fixed overhead $ 3,376,800 $ 3,376,800 Variable overhead $ 2,251,200 $ 2,532,600 Operating Levels 80% 90% Production (in units) 46,900 53,600 60,300 Standard direct labor hours (7 DLH/unit) 328,300 375,200 422,100 Budgeted overhead (flexible budget) $ 3,376,800 $ 3,376,800 $ 3,376,800 Fixed overhead Variable overhead. $ 1,969,800 $ 2,251,200 $ 2,532,600 During the current quarter, the company operated at 90% of capacity and produced 60,300 units; actual direct labor totaled 399,200 hours. Units produced were assigned the following standard costs. Direct materials (1,809,000 pounds@ $4.80 per pound). $ 8,683,200 Direct labor (422,100 hours@ $14 per hour) 5,909,400 6,331,500 Overhead (422,100 hours @ $15 per hour) Standard (budgeted) cost $ 20,924,100 Actual costs incurred during the current quarter follow. Direct materials (1,711,000 pounds@ $6.30 per pound) $ 10,779,300 Direct labor (399,200 hours @ $11.20 per hour) 4,471,040 Fixed overhead 2,813,700 Variable overhead 3,084,100 Actual cost $ 21,148,140 Required: 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. Reg1 Red 2 FaQ3 Controllable variance Reg 3 Volume Valance Compute the direct materials variance, including its price and quantity variances, (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance Round "Cost per unit answers to 2 Standard Cont Actual Cost X Actual quantty Actual price 46,900 328,300 $ 3,376,800 $ 1,969,800 O 70% E Varianty Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per he Actual Cost Standard Cost $ 0 $ 0 $ of Req 3 Controllable Req 1 Req 2 Req 3 Volume Variance. Variance Compute the overhead controllable variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.). Controllable Variance Actual total overhead Budgeted total overhead Controllable variance Req 1 Req 2 Req 3 Controllable Variance Req 3 Volume Variance Compute the overhead volume variances. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Volume variance Budgeted total overhead Standard overhead applied Volume variance