Required Informatlon The following information applies to the questions displayed below.J Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. $4.88 per Ib$144.08 Direct labor (8 hrs. $16 per hr.) Factory overhead-variable (8 hrs.$9 per 128.00 72.08 hr Factory overhead-fixed (8 hrs. $12 per hr. 96.08 Total standard cost $448.08 The predetermined overhead rate is based on planned operating volume of 80% of the productive capacity of 59,000 units per quarter. The following flexible budget information is ovailable. Production in units Standard direct labor hours Budgeted overhead 78% 41,380 330,480 erating Levels 88% 47,288 377,680 98% 53,180 424,88a Fixed factory overhead $4,531,280 $4,531,280 $4,531,28a Variable factory overhead $2,973,680 $3,398,480 $3,823,28a During the current quarter, the company operated at 90% of capacity and produced 53,100 units of product actual direct abor totaled 420,800 hours. Units produced were ossigned the following standard costs. Direct materials (1,593,eee Ibs. @ $4.8 per Ib.) Direct labor (424,880 hrs. $16 per hr) 6,796, 808 Factory overhead (424, 888 hrs. $21 per hr Total standard cost $ 7,646,408 8,928,808 $23, 364,800 Actual costs incurred during the current quorter follow. Direct materials (1,582,880 Ibs. $5.90 per 1b.) Direct labor (420,880 hrs. $12.58 per hr. 5,260,880 Fixed factory overhead costs Variable factory overhead costs Total actual costs 9,333,800 4,297,680 4,823,286 $22,914,680