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 lbs. @ 54.80 per Ib.) Direct labor (7 hrs. @ 514 per hr.) Factory overhead-Variable (7 hrs. $6 per hr.) Factory overhead-Fixed (7 hrs. @ 59 per hr.) Total standard cost $144.00 98.00 42.00 63.00 $ 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% Bes 44,500 51,200 313,600 358,400 903 57,600 403,280 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $3,225,600 33,225,600 $3,225,600 $1,881,600 $2,150,400 $2,419,200 During the current quarter, the company operated at 90% of capacity and produced 57.600 units of product; actual direct labor totaled 400,200 hours. Units produced were assigned the following standard costs Direct materials (1,728,000 lbs. @ 54.80 per tb.) Direct labor (403,200 hes. $14 per hr.) Factory overhead (483,200 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 (1,715,000 lbs. 56.30 per lb.) Direct labor (400,200 hrs. $11.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,804,500 4,402,200 2,813,500 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 Complete this question by entering your answers in the tabs below. F1 Reg 2 Reg Controllable Variance Red 4 Volume Variance Required: 1. Compute the direct mail.costante indluding price and gettances 2. Compute the direct aborcostanance, including state and eficiency variance 3. Compute the overhead controllable and volume ces Complete this question by entering your answers in the tabs below Cig Var Computer contain a prin ce in cate the fact ting for fortulno varnou do pewnews to declinat Achat con Sant Cu Hoy > Required 1. Comote the decimales cost varlance, including price and quantity variances 2. Compute the direct cost arance, including its rate and efficiency wariances 3. Comoure the overhead controlable and volume variances Complete this question by entering your answers in the below Covo Van w Senere oor ons, including stondency warance indicate the effect of vaccing for favorable, table and once Hound te per how to a de pe Att Wanan Hey! Code 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 Req 4 Volume Reg1 Reg 2 Controllable Variance Variance Compute the controllable variance. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no Variance.) 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 Reg 1 Reg 2 Reg 4 Volume Controllable 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 Floed overhead cost applied Fixed overhead volume variance