Required Information Use the following information for the Problems below. 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. $5.10 per Ib.) Direct labor (8 hrs. $15 per hr.) Factory overhead-variable (8 hrs. $6 per hr.) Factory overhead-fixed (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 708 808 908 45,500 52,000 58,500 364,000 416,000 468,000 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. $2.950.500 Direct materials (1,755,000 Ibs. $5.10 per Tb.) Direct labor (468,000 hrs. $15 per hr.) Factory overhead (468,000 hrs. $15 per hr.) Total standard cost 7,020,000 7,020,000 $ 22,990,500 Actual costs incurred during the current quarter follow. Direct materials (1.741,000 lbs. $7.00 per lb.) Direct labor (465,000 hrs. * $11.50 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $12,187,000 5,347,500 3.315,800 3,104,200 $23,954,500 (b) Compute the fixed overhead spending and volume variances. (Round "cost per unit" and "rate per hour" answers to 2 decimal places.) Actual Fixed OH Cost Budgeted Overhead Standard Cost (FOH applied) (c) Compute the total overhead controllable variance. Overhead Controllable Variance Total overhead controllable variance |