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Direct materials (30 Ibs. @ $4.80 per Ib.) Direct labor (8 hrs. @ $16 per hr.) Factory overhead-Variable (8 hrs. @ $9 per hr.) Factory overhead-Fixed (8 hrs. @ $12 per hr.) Total standard cost $144.00 128.00 72.00 96.00 $440.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 59,000 units per quarter. The following flexible budget information is available. Operating Levels 70% 80% 90% 41,300 47,200 53,100 330,400 377,600 424,800 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $4,531,200 $4,531,200 $4,531,200 $2,973,600 $3,398, 400 $3,823,200 During the current quarter, the company operated at 90% of capacity and produced 53,100 units of product; actual direct labor totaled 420,800 hours. Units produced were assigned the following standard costs. Direct materials (1,593, 000 Ibs. @ $4.80 per Ib.) Direct labor (424,800 hrs. @ $16 per hr.) Factory overhead (424,800 hrs. $21 per hr.) Total standard cost $ 7,646,400 6,796,800 8,920,800 $23,364,000 Actual costs incurred during the current quarter follow. Direct materials (1,582,000 Ibs. @ $5.90 per lb.) Direct labor (420,800 hrs. $12.50 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $ 9,333, 800 5,260,000 4,297,600 4,023,200 $22,914,600 Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Controllable Variance Req 4 Volume Variance Compute the direct materials cost variance, including its price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no places.) Actual Cost Standard Cost Actual quantity 0 $ O Standard quantity $ 0 O Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Reg 3 Controllable Variance Req 4 Volume Variance Compute the direct labor cost variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no vari decimal places.) Actual Cost Standard Cost Actual hours Standard hours 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. Req 1 Req 2 Req 3 Controllable Variance Req 4 Volume 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: 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. Req 3 Req 1 Req 2 Controllable Variance Req 4 Volume 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 Fixed overhead cost applied Fixed overhead volume variance