please help me with solving the overhead controllable and volume variance
The following information applies to the questions displayed below.] Trico Company set the following standard unit costs for its single product Direct materials (30 lbs. $4.00 per lb.) Direct labor (8 hrs. $16 per hr.) Factory overhead-Variable (Bhrs. $9 per hr.) Factory overhead-Feed ( hrs. $12 per hr.) Total standard cost $ 144.00 120.00 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. 909. Operating Levels 7096 8096 41,300 47200 330,400 377,600 424.800 Production In units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $ 4.531200 $ 2.973,600 $ 4.531200 S 4.531200 $ 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 420.000 hours. Units produced were assigned the following standard costs. Direct materials (1.593.000 lbs. $4.00 per lb.) Direct labor (424,800 hrs. $16 per hr.) Factory overhead (424.000 hrs. $21 per h) Total standard cost $ 7,646,400 6.796.000 8.920.000 $23,364.000 Actual costs incurred during the current quarter follow. Direct materials (1.562.000 lbs. $5.90 per lib.) Direct labor (420.000 hrs. $12.50 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $ 9.333.000 5.260.000 4,297,600 4023 200 $ 22,914,600 References Section Break Use the following Information for the Problems below. Required: 1. Compute the direct materials cost variance, including its price and quantity variances. ompute 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. Reg 3 Req 1 Req2 Controllable Reg 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 Favorable 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 Reg 2 Reg 3 Controllable Variance Reg 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
