Required Information (The following information applies to the questions displayed below.) Trico Company set the following standard unit costs for its single product. 21 Direct materials (30 lbs. $5.10 per Ib.) Direct labor (8 hrs. $15 per hr.) Factory overhead-Variable (hrs. $6 per hr.) Factory overhead-Pixed (8 hrs. $9 per hr.) Total standard cost $153,00 120.00 48.00 72.00 $393.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 65,000 units per quarter. The following flexible budget information is available. Operating Levels 708 BOS 45,500 52,000 364,000 416,000 908 58,500 468,000 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $3,744,000 $3,744,000 $3,744,000 $2,184,000 $2,496,000 $2,800,000 During the current quarter, the company operated at 90% of capacity and produced 58,500 units of product, actual direct labor totaled 465,000 hours. Units produced were assigned the following standard costs. Direet materials (1,755,000 Iba. $5.10 per Ib.) Direct labor (468,000 hrs. $15 per hr.) Factory overhead 468,000 hrs. $15 per hr.) Potal standard cost $ 8,950, 500 7,020,000 7,020,000 $22.990,500 During the current quarter, the company operated at 90% of capacity and produced 58,500 units of product, actual direct labor totaled 465,000 hours. Units produced were assigned the following standard costs. of 2 Direct materials (1.755,000 lbs. 65.10 per tb.) Direct labor (468,000 hrs. $15 per hr. Factory overhead (468,000 hrs. 015 per hr.) Total standard cont $ 8,950,500 7,020,000 7,020,000 $22.990,500 Actual costs incurred during the current quarter follow. 4307 Direct materiala (1,741,000 lbs. $7.00 per lb.) Direct labor (465,000 hrs. $11.50 per he.) Fixed factory overhead costs Variable factory overhead coats Total actual conta $12,167,000 5,347,500 3,315,800 2.104,200 $23,954,500 ok 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. ances Ayuncu! 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. Req3 Req 1 Req 2 Controllable Variance Req 4 Volume Variance Compute the direct materials cost variance, including its price and quantity variances. (Indicate decimal places.) Actual Cost + $ 0 $ cost varlance, 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. 1:42:35 Req 1 Reg 2 Req3 Controllable Variance Req 4 Volume Variance ook Compute the direct labor cost variance, including its rate and efficiency variances. (Indicate the effec decimal places.) Actual Cost Int ences $ 0 S 0 0 art 1 of 2 Required: 1. Compute the direct materials cost varlance, 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. 301 01:42:20 Req3 Req 1 Reg 2 Controllable Req 4 Volume Variance Variance Compute the volume variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Print Fixed overhead volumo variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance
