omework Saved Trico Company set the following standard unit costs for its single product. Direct materials (30 lbs. $5.00 per Ib.) Direct labor (7 hrs. 514 per hr.) Factory overhead-Variable (7 hrs. O $7 per hr.) Factory overhead-Fixed (7 hrs. O 59 per hr.) Total standard cost $150.00 98.00 49.00 63.00 $360.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 51,000 units per quarter. The following flexible budget information is available Operating levels 80% 90% Production in units 35, 700 40, 800 45, 900 Standard direct labor hours 249,900 285,600 321,300 Budgeted overhead Fixed factory overhead $2,570, 400 $2,570, 400 $2,570, 400 Variable factory overhead $1,749,300 $1,999, 200 $2,249, 100 708 During the current quarter, the company operated at 90% of capacity and produced 45,900 units of product; actual direct labor totaled 317.300 hours. Units produced were assigned the following standard costs. Direct materials (1,377,000 IS! ( 55.00 per. Ib.) Direct labor (321, 300 hrs. O $14 per hr.) Factory overhead (321,300 hrs. $16 per hr.) Total standard cost $ 6,885,000 4,498, 200 5, 140, 100 $16,524,906 labor totaled 317,300 hours. Units produced were assigned the following standard costs. Direct materials (1,377,000 lbs. $5.00 per Ib.) Direct labor (321,300 hrs. $14 per hr.) Factory overhead (321, 300 hrs. $16 per hr.) Total standard cost $ 6,885,000 4,498, 200 5, 140, 800 $16,524,000 Actual costs incurred during the current quarter follow. Direct materials (1,358,000 lbs. @ $7.88 per lb.) Direct labor (317, 300 hrs. O $11.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,592,400 3,490,300 2,448,500 2, 292,300 $18,823,500 Problem 21-4A 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 Complete this question by entering your answers in the tabs below. Check my work Required information Complete this question by entering your answers in the tabs below. De 2 R3 Controllable Varance Red Volume Varance Cunove the direct materias coat variance, including its price and quantity variances. Indicate the effect of each versanoe by selecting for favorable, unfavorable and no variance. At places) Standard Cour Achal Cost Req2) Complete this question by entering your answers in the tabs below. Reu Hea Hoa Hey 4 Volume Controllable Variante Vacante Compute the direct labor cost variance, including its role Volume Vences (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round decimal places) Standard Cost Actual Cost Required information Complete this question by entering your answers in the tabs below. Reg 3 Reg 1 Reg 2 Controllable Req 4 Volume Variance Variance Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Controllable Variance Actual overhead Budgeted overhead Controllable variance Required information Complete this question by entering your answers in the tabs below. Req3 Reg! Reg 2 Controllable Reg 1 Volume Variance Vorance Compute the volume variances, (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Fixed overhead volume variance Budgeted foxed overhea Fored overhead cost applied Fored overhead volume variance
