Required Information Use the following information for the Problems below. (Static) [The following information applies to the questions displayed below] Trini Company set the following standard costs per unit for its single product. Direct materials (30 pounds @ $4 per pound) $ 120.80 Direct labor (5 hours @ $14 per hour) Variable overhead (5 hours @ $8 per hour) 40. 80 Fixed overhead (5 hours @ $10 per hour) 50.80 Standard cost per unit $ 280.80 Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 60,000 units per quarter. The following additional information is available. Operating Levels 70% 89% Production (in units) 42,080 units 48, 809 units 54,290 units Standard direct labor hours (5 DLH/unit) 210, 080 hours. 240, 909 hours. 270, 208 hours. Budgeted overhead (flexible budget) Fixed overhead $ 2,490, 090 $ 2,480, 209 $ 2,480, 209 Variable overhead $ 1, 680, 980 $ 1,920, 909 $ 2,160,809 During the current quarter, the company operated at 90% of capacity and produced 54,000 units; actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs Direct materials (1, 620,080 pounds @ $4 per pound) $ 6,480, 090 Direct labor (270,080 hours ( $14 per hour) 3,780, 080 Overhead (270, 809 hours @ $18 per hour) 4, 860, 080 Standard (budgeted) cost $ 15, 120, 090 Actual costs incurred during the current quarter follow. Direct materials (1, 615,080 pounds @ $4.10 per pound) $ 6, 621, 508 Direct labor (265,090 hours @ $13.75 per hour) 3,643, 750 Fixed overhead 2, 350, 909 Variable overhead 2, 200, 090 Actual cost $ 14, 815, 250 Problem 8-4A (Static) Computing materials, labor, and overhead variances LO P3, P4 Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances.Problem 8-4A (Static) Computing materials, labor, and overhead variances LO P3, P4 Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor 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. Req 3 Reg 1 Req 2 Controllable Reg 3 Volume Variance Variance Compute the direct materials variance, including its price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to two decimal places.) Actual Cost Standard Cost Complete this question by entering your answers in the tabs below. Req 3 Req 1 Req 2 Controllable Req 3 Volume Variance Variance Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to two decimal places.) Actual Cost Standard Cost Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor 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 1 Req 2 Controllable Req 3 Volume Variance Variance Compute the overhead controllable variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Controllable Variance Actual total overhead Budgeted total overhead Controllable variance Problem 8-4A (Static) Computing materials, labor, and overhead variances LO P3, P4 Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor 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. Req 3 Req 1 Req 2 Controllable Req 3 Volume Variance Variance Compute the overhead volume variances. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Volume variance Budgeted total overhead Standard overhead applied Volume variance