Required information The following information applies to the questions displayed below) Tico Company set the following standard unit costs for its single product $ 153.00 Direct materials (Be Ibs. $5.10 per Ib.) Direct labor (8 hrs. $14 per hr.) Factory overhead variable (8 hrs. 36 per hr.) Factory overhead-fixed (hrs. $12 per hr.) Total standard cost The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 66,000 units per quarter. The following flexible budget information is available, Operating Levels 59,400 369,660 52.800 422,400 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $5,068,800 $2,217,600 $5,068,800 $5,068,00 $2,534,400 $2,851,200 During the current quarter the company operated at 90of capacity and produced 59,400 units of product actual direct labor totaled 369,400 hours. Units produced were assigned the following standard costs Direct materials (1,782,000 lbs. 35.10 per tb.) Direct Labor (475,200 hrs. $14 per hr.) Factory overhead (475,200 hrs. sia per hr.) Total standard cost Actual costs incurred during the current quarter follow e per $11. 54 Direct waterial (1,367.000 Direct la 400 Fixed factory overhead costs Variable factory what Total actual con Direct materials (1,387,eee Ibs. 56.70 per lb.) Direct labor (369,400 hrs. $11.60 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $ 9,292,900 4,285,040 3,196, 500 3.466,700 $20.241.140 (c) Compute the variable overhead sp decimal places.) triances. (Round "cost per unit" and "rate per hour answers to 2 Be rapeutes the variable overhead spending and offered AH Actual Hours SH - Standard Hours AVR - Actual Variable Rate SVR Standard Variable Rate SVR - Standard Variable Rate Flexible Budget Standard Cost (VOH applied) Actual Variable OH Cost AHX AVR $ 2.50 11 thi Compute the fixed overhead spending and volume variances (Round cost per unit" and "rate per hour answers to de places.) AH - Actual Hours SH - Standard Hours AFR - Actual Fixed Rate SFR Standard Fixed Rate Required information (b) Compute the fixed overhead spending and volume variances. (Round "cost per unit" and "rate per hour answers to 2 decimal places.) AHActual Hours SH - Standard Hours AFR = Actual Fixed Rate SFR - Standard Fixed Rate Actual Fixed OH Cost Budgeted Overhead Standard Cost (FOH applied) S of 0 (c) Compute the total overhead controllable variance. (c) Compute the total overhead controllable variance Overhead Controllable Variance Total overhead controllable variance