Required Information Use the following information for the Problems below. (Algo) [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 @ $4.8e per pound) $ 144.80 Direct labor (7 hours @ $14 per hour) 98.ee Variable overhead (7 hours @ $6 per hour) 42.ee Fixed overhead (7 hours @ $9 per hour) Standard cost per unit $ 347.00 63.80 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 64,000 units per quarter. The following additional information is available. Operating Levels 78% 80% 9ex Production (in units) 44,800 51,200 57,600 Standard direct labor hours (7 DLH/unit) 313,680 358,488 403, 200 Budgeted overhead (flexible budget) Fixed overhead $ 3,225,680 $ 3,225,600 $ 3,225,600 Variable overhead $ 1,881,680 $ 2,150,400 $ 2,419, 200 During the current quarter, the company operated at 90% of capacity and produced 57.600 units; actual direct labor totaled 400,200 hours. Units produced were assigned the following standard costs. Direct materials (1,728,eee pounds @ $4.82 per pound) $ 8,294,400 Direct labor (403,200 hours @ $14 per hour) 5,644,880 Overhead (403,208 hours @ $15 per hour) 6,848,000 Standard (budgeted) cost $ 19,987, 280 Actual costs incurred during the current quarter follow. Direct materials (1,715, eee pounds @ $6.30 per pound) Direct labor (408,220 hours @ $11.ee per hour) Fixed overhead Variable overhead Actual cost $ 10,884,500 4,482,200 2,813,800 2,634, 200 $ 20,654,700 Problem 21-4A (Algo) Computing materials, labor, and overhead varlances 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. Rea 1 Reg 2 Reg 3 Controllable Variance Req 3 Volume 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" answer Actual Cost Standard Cost Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Controllable Variance Req 3 Volume 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 "Rate per hour" answ Actual Cost Standard Cost Complete this question by entering your answers in the tabs below. Reg 3 Reg 1 Reg 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 Complete this question by entering your answers in the tabs below. Reg 3 Reg 1 Reg 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
