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. @ $4.90 per Ib.) Direct labor (4 hrs. $16 per hr.) Factory overhead-Variable (4 hrs. @ $6 per hr.) Factory overhead-Fixed (4 hrs. @ $10 per hr.) Total standard cost $ 147.00 64.ee 24.ee 40.00 $ 275.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 53,000 units per quarter. The following flexible budget information is available. Operating Levels 70% 80% 37,100 42,400 148, 480 169,690 90% 47,700 198,800 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $1,696,000 $1,696,000 $1,696,000 $ 890,400 $1,017,600 $1,144,800 During the current quarter, the company operated at 90% of capacity and produced 47,700 units of product, actual direct labor totaled 185,800 hours. Units produced were assigned the following standard costs. Direct materials (1,431,000 lbs. @ $4.90 per Ib.) Direct labor (190,880 hrs. $16 per hr.) Factory overhead (190,800 hrs. 516 per hr.) Total standard cost $ 7,011,900 3,052,800 3,052,800 $13, 117,500 Actual costs incurred during the current quarter follow. Direct materials (1,412,000 lbs. @ $7.70 per lb.) Direct labor (185,880 hrs. @ $11.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,872,400 2,643,800 1,318,500 1,282,709 $15,517,400 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. Controllable Reg 4 Volume Req3 Reg 1 Reg 2 Variance Variance Compute the direct materials cost varlance, including its price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost Standard Cost 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. @ $4.90 per Ib.) Direct labor (4 hrs. @ $16 per hr.) Factory overhead-Variable (4 hrs. @ $6 per hr.) Factory overhead-Fixed (4 hrs. @ $10 per hr.) Total standard cost $ 147.00 64.00 24.00 48.00 $ 275.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 53,000 units per quarter. The following flexible budget information is available. Operating Levels 70% BOX 37,100 42,400 148,400 169,600 90% 47,700 198,800 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $1,696,000 $1,696,600 $1,696,000 $ 890,400 $1,817,600 $1,144,800 During the current quarter, the company operated at 90% of capacity and produced 47,700 units of product; actual direct labor totaled 185,800 hours. Units produced were assigned the following standard costs. Direct materials (1,431,000 lbs. @ 54.98 per Ib.) Direct labor (190,800 hrs. @ $16 per hr.) Factory overhead (190,800 hrs. $16 per hr.) Total standard cost $ 7,011,988 3,052,800 3,052,800 $13, 117,500 Actual costs incurred during the current quarter follow. Direct materials (1,412,000 lbs. @ 57.70 per lb.) Direct labor (185,800 hrs. @ $11.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,872,400 2,843,800 1,318,500 1,282,700 $15,517,400 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 direct labor cost variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to decimal places.) Actual Cost Standard Cost 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. @ $4.90 per Ib.) Direct labor (4 hrs. @ $16 per hr.) Factory overhead-Variable (4 hrs. @ $6 per hr.) Factory overhead-Fixed (4 hrs. @ $10 per hr.) Total standard cost $147.00 64.00 24.00 40.00 $ 275.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 53,000 units per quarter. The following flexible budget information is available. Operating Levels 70% 80% 37,100 42,400 169,600 90% 47,700 190,800 148,400 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $1,696,000 $1,696,000 $1,696,000 $ 890,400 $1,017,600 $1,144,800 During the current quarter, the company operated at 90% of capacity and produced 47,700 units of product; actual direct labor totaled 185,800 hours. Units produced were assigned the following standard costs. Direct materials (1,431,000 lbs. @ $4.90 per Ib.) Direct labor (190,800 hrs. @ $16 per hr.) Factory overhead (190,800 hrs. @ $16 per hr.) Total standard cost $ 7,011,900 3,052,800 3,052,800 $13,117,500 Actual costs incurred during the current quarter follow. Direct materials (1,412,000 lbs. @ $7.70 per lb.) Direct labor (185,800 hrs. @ $11.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,872,400 2,043,800 1,318,500 1,282,700 $15,517,400 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 Req 4 Volume Req 1 Reg 2 Controllable Variance Variance Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Controllable Variance Actual overhead Budgeted overhead Controllable variance 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. @ $4.90 per Ib.) Direct labor (4 hrs. @ $16 per hr.) Factory overhead-Variable (4 hrs. @ $6 per hr.) Factory overhead-Fixed (4 hrs. @ $10 per hr.) Total standard cost $ 147.00 64.00 24.00 40.00 $ 275.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 53,000 units per quarter. The following flexible budget information is available. Operating Levels 70% 80% 37,100 42,400 148,400 169,600 90% 47,700 190,800 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $1,696,000 $1,696,000 $1,696,000 $ 890,400 $1,017,600 $1,144,800 During the current quarter, the company operated at 90% of capacity and produced 47,700 units of product; actual direct labor totaled 185,800 hours. Units produced were assigned the following standard costs. Direct materials (1,431,000 Ibs. @ $4.90 per Ib.) Direct labor (190,800 hrs. @ $16 per hr.) Factory overhead (190,800 hrs. @ $16 per hr.) Total standard cost $ 7,011,900 3,052,800 3,052,800 $13,117,500 Actual costs incurred during the current quarter follow. Direct materials (1,412,000 lbs. @ $7.70 per lb.) Direct labor (185, 800 hrs. @ $11.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,872,400 2,043,800 1,318,500 1,282,700 $15,517,400 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 1 Reg 2 Reg 3 Controllable Variance Reg 4 Volume 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