Required information Skip to question [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.50 per pound) $ 165.00 Direct labor (7 hours @ $14 per hour) 98.00 Variable overhead (7 hours @ $6 per hour) 42.00 Fixed overhead (7 hours @ $12 per hour) 84.00 Standard cost per unit $ 389.00 Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the companys capacity of 62,000 units per quarter. The following additional information is available. Operating Levels 70% 80% 90% Production (in units) 43,400 49,600 55,800 Standard direct labor hours (7 DLH/unit) 303,800 347,200 390,600 Budgeted overhead (flexible budget) Fixed overhead $ 4,166,400 $ 4,166,400 $ 4,166,400 Variable overhead $ 1,822,800 $ 2,083,200 $ 2,343,600 During the current quarter, the company operated at 90% of capacity and produced 55,800 units; actual direct labor totaled 386,600 hours. Units produced were assigned the following standard costs. Direct materials (1,674,000 pounds @ $5.50 per pound) $ 9,207,000 Direct labor (390,600 hours @ $14 per hour) 5,468,400 Overhead (390,600 hours @ $18 per hour) 7,030,800 Standard (budgeted) cost $ 21,706,200 Actual costs incurred during the current quarter follow. Direct materials (1,658,000 pounds @ $7.60 per pound) $ 12,600,800 Direct labor (386,600 hours @ $12.00 per hour) 4,639,200 Fixed overhead 3,321,400 Variable overhead 3,109,400 Actual cost $ 23,670,800 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. Req 1Req 2Req 3 Controllable VarianceReq 3 Volume Variance 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 decimal places.)