Required information The following information applies to the questions displayed below.] Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. $4.40 per Ib.) Direct labor (6 hrs. $14 per hr.) Factory overhead-variable (6 hrs. ?8 per hr. Factory overhead-fixed (6 hrs. $11 per hr.) Total standard cost $132.00 84.00 48.00 66.00 $330.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 60,000 units per quarter. The following flexible budget information is available 70% 42,000 252,000 erating Levels 80% 48,000 288,000 90% Production in units Standard direct labor hours Budgeted overhead 54,000 324,000 Fixed factory overhead Variable factory overhead $3,168,000 $3,168,000 $3,168,000 $2,016,000 $2,304,000 $2,592,000 During the current quarter, the company operated at 90% of capacity and produced 54,000 units of product, actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs Direct materials (1,620,000 Ibs. * $4.40 per Ib.) Direct labor (324,000 hrs. $14 per hr.) Factory overhead 324,000 hrs. l $19 per hr.)6.156,000 Total standard cost $ 7,128,000 4,536,000 $17, 820,000 Actual costs incurred during the current quarter follow Direct materials (1,339,000 Ibs. * $6.20 per lb.) 8,301,800 Direct labor (265,000 hrs. $12.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs 3,180,000 2,442,900 2,736,900 $16,661,600