Required Informatlon IThe following Information appliles to the questions displayed below. Trico Company set the following standard unit costs for Its single product. Direct materials (30 Ibs. $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.ee 12e.ee 48.00 72.e0 $393.6e 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 avallable Production in units Standard direct labor hours Budgeted overhead 80% 52.80 416,eee 90% 58.50 468,000 45, 5ee 364,8ee Fixed factory overhead Variable factory overhead $3,744,eee $3,744,ee0 $3,744,eee $2,184,eee $2,496,ee0 $2,808,eee 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 Direct materials (1,755,eee Ibs. S5.1e per Ib.) Direct labor (468,eee hrs.$15 per hr.) Factory overhead (468,eee hrs. $15 per hr.) Total standard cost $ 8,95e,5ee 7,020,8ee 7,028,eee $22,99e,5ee Actual costs Incurred during the current quarter follow Direct materials (1,741,eee Ibs. $7.ee per lb.) Direct labor (465,eee hrs. $11.50 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $12,187,eee 5,347,5ee 3,315,8ee 3,104,2ee $23,954,500