Required information [The following information applies to the questions displayed below.) Trico Company set the following standard unit costs for its single product 5 144.80 98.00 42.00 Direct materials (30 lbs. 54.80 per Ib.) Direct labor (7 hrs. $14 per hr.) Factory overhead-Variable (7 hrs. @ $6 per hr.) Factory overhead-Fixed (7 hrs. 59 per hr.) Total standard cost $ 347.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 64,000 units per quarter. The following flexible budget information is available Operating Levels 70% B01 9 44,00 51,200 57,600 313,600 358,400 403,200 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $3,225,600 $3,225,600 $3,225,600 $1,681,600 $2,150,400 $2,419,200 During the current quarter, the company operated at 90% of capacity and produced 57.500 units of product, actual direct labor totaled 400,200 hours. Units produced were assigned the following standard costs. Direct materials (1,728,600 Ibs. 54.80 per Ib.) Direct labor (403,200 hes. @ 514 per hr.) Factory overhead (403,200 hrs. $15 per hr.) Total standard cost $ 8,294,400 5,644,800 6,048.000 $19,987,200 Actual costs incurred during the current quarter follow Direct materials (1,735,000 lbs. $6.30 per lb.) Direct labor (400,200 hrs. $11.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,305,500 4,482,200 2,513,500 2,634,200 $20,654,700 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. Required: 1. Compute the directes costvariante including its price and quarth variances 2. Come the direct labor cost venance, including its role and ency variances 3. Compete overhead controllable and volume varie Competition by enter your answers in the C Varlan We Vai May M Standard wa Rog2 Required 1. Compute the Grect materials cost voce, duding its price and quantity variances 2. Compute the direct labor covariance, including its rate and efficiency variances 3. Compute the overhead controllable and volume variances Ciglete this question by entering your answers in the tabs blow Volume 2 C Van Var Computerol Varance, include trate and ency in the roach was by lecting for watch drup Mini Con Rest Reg Core Valance >> Required: 1. Compute the direct materials cost variance, including its price and quantity variances 2. Compute the direct labor cost varlance, 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 Reg 1 Reg 2 Req 4 Volume Controllable Variance Variance Compute the controllable variance (Indicate the effect of each variance by selecting for favorablo, unfavorable, and no varianco) Controllable Variance Actual overhead Budgeted overhead Controllable variance 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. Reg 3 Controllable Variance Reg 4 Volume Variance Req2 Regi Compute the volume variances, (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Fixed overhead volume variance Budgeted faced overhead Fred Overhead cost applied Fored overhead volume variance Beu
