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. @$4.80 per Ib.) Direct labor (6 hrs. @$14 per hr.) Factory overhead-Variable (6 hrs. $144.00 84.00 $7 per hr.) 42.00 Factory overhead-Fixed (6 hrs. $9 per hr.) 54.00 Total standard cost $324.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 57,000 units per quarter. The following flexible budget information is available. Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead Operating Levels 70% 39,900 239,400 80% 90% 45,600 273,600 51,300 307,800 $2,462,400 $2,462,400 $2,462,400 $1,675,800 $1,915,200 $2,154,600 During the current quarter, the company operated at 90% of capacity and produced 51,300 units of product; actual direct labor totaled 304,800 hours. Units produced were assigned the following standard costs. $4.00 per Ib.) per hr.) Direct materials (1,539,000 lbs. Direct labor (307,800 hrs. @ $14 Factory overhead (307,500 hrs. $16 per hr.) Total standard cost Actual costs incurred during the current quarter follow. Direct materials (1,519,000 lbs. $7.30 per 1b.) Direct labor (304,300 hrs. $13.00 per hr.) Fixed factory overhead casts Variable factory overhead costs Total actual costs $ 7,387,200 4,309,200 4,924,800 $16,621,200 $11,008,700 3,962,400 2,337,000 2,107,800 $19,575,900 Brou ment $4.00 per b.) $ 7,387,200 4,309,200 Direct materials (1,539,000 Tbs. Direct labor (307,000 hrs. $14 per hr.). Factory overhead (307,000 hrs. $16 per hr.) Total standard cost Actual costs incumed during the current quarter follow 4,504,000 $16,621,200 Direct materials (1,519,000 Ths. Fixed factory overhead costs Direct labor (304,00 hrs. $13.00 per hr.) Variable factory overhead costs Total actual costs $7.30 see th.) 3,162,400 2,337,000 $19,575,00 Required 1. Compute the dect materials cost variance, including its price and quantity variances 2. Compute the direct labor cost variance, including es rate and efficiency variances 3. Compute the overhead controllable and volume variance Complete this question by entering your answers in the tabs below. 2 1 C V the stance, cuding price and quantity variance (date the coach tane by ting for favorable fable, and no vartares Re Actual Cal W # 3 $ C3 96 149 9 4 Z sument Required 1. Compute the direct materials cost variance, including its price and quantity variances 2. Compute the direct labor cost vanance, including its rate and efficiency variances 3. Compute the overhead controllable and volumevances Complete this question Iry entering your answers in the tabs below 2 C Help Seve & Exit Cut the materials at varbec inuing tv pros and unity aan dat act of a bygotable, onavale and an E 2 W S X ae 3 Type 40 4 > A B 14 5 6 7 B 9 0 0 + Mandast Com + 4 P 3 1 11 KL ELI R T Y D D CV F G H L B N M ctri 4 pruse 1 ssessment 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. Red 2 Contrullabie Variance Reg 4 Volume Variance Compute the direct labor cost variance, including its rate and efficiency variances: (todicate the effect of each varlance by selecting for favocable, sofavorable, and no variance. Round "Rate per decimal places) Actual Cost 1 Standard Cost Fixed factory overhead costs Variable factory overhead costs Total actual costs 2,337,899 2,187,800 $19,575,900 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 Reg 3 Controllable Req 4 Volume Variance Variance Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Actual overhead Controllable Variance Budgeted overhead Controllabin variance Total actual costs $19,575,900 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 31 Controllable Req 4 Volume Variance 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