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*Please Fill in the Blue Outlined Boxes Below With the Reference Above, Problem sections 1-4: 1) 2) 3) 4) Required information [The following information applies
*Please Fill in the Blue Outlined Boxes Below With the Reference Above, Problem sections 1-4:
1)
2)
3)
4)
Required information [The following information applies to the questions displayed below.] Trinl Company set the following standard costs per unit for its single product Direct naterials (30 pounds $4.89 per pound) Direct labor (8 hours 816 per hour) Variable overhead ( 8 hours of $9 per hour) Fixed overthead ( 8 hours \& $12 per hour) Standard cost per unit Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted actlvity level of 80% of the company's capacity of 59,000 units per quarter. The following additlonal information Is avallable. During the current quarter, the company operated at 90% of capacity and produced 53,100 units; actual direct labor totaled 420,800 hours. Units produced were assigned the following standard costs. Direct naterials (1,593,690 pounds $4.80 per pound) Direct labor (424,800 hours \& $16 per hour) Overhead (424, 800 hours \& \$21 per hour) standard (budgeted) cost $7,646,469 6,796,809 8,920,869 $23,364,069 Actual costs incurred during the current quarter follow. Direct naterials (1,582,099 pounds e $5.90 per pound) Direct labor (420,800 hours \& $12.50 per hour) Fixed overtiead Variable overhead Actual cost $9,333,890 5,260,690 4, 297, 600 4,023,280 $22,914,600 Required: 1. Compute the direct materlals varlance, Including its price and quantity varlances. 2 Compute the direct labor varlance, Including Its rate and efficlency varlances. 3. Compute the overhead controllable and volume varlances. Compute the overhead volume variances. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Compute the direct labor variance, including its rate and efficiency variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places. Compute the direct materials variance, including its price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places. Favorable No variance Unfavorable Compute the overhead controllable variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no varianceStep by Step Solution
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