[The following information applies to the questions displayed below.] Trico Company set the following standard unit costs for its single product. Direct materials (26 Ibs. @ $5 per Ib.) $ 130.00 Direct labor (10 hrs. @ $10 per hr.) 100.00 Factory overheadvariable (10 hrs. @ $6 per hr.) 60.00 Factory overheadfixed (10 hrs. @ $9 per hr.) 90.00 Total standard cost $ 380.00 The predetermined overhead rate is based on a planned operating volume of 50% of the productive capacity of 40,000 units per quarter. The following flexible budget information is available. Operating Levels 40% 50% 60% Production in units 16,000 20,000 24,000 Standard direct labor hours 160,000 200,000 240,000 Budgeted overhead Fixed factory overhead $ 1,800,000 $ 1,800,000 $ 1,800,000 Variable factory overhead $ 960,000 $ 1,200,000 $ 1,440,000 During the current quarter, the company operated at 60% of capacity and produced 24,000 units of product; actual direct labor totaled 236,000 hours. Units produced were assigned the following standard costs: Direct materials (624,000 Ibs. @ $5 per Ib.) $ 3,120,000 Direct labor (240,000 hrs. @ $10 per hr.) 2,400,000 Factory overhead (240,000 hrs. @ $15 per hr.) 3,600,000 Total standard cost $ 9,120,000 Actual costs incurred during the current quarter follow: Direct materials (619,000 Ibs. @ $5.10 per lb.) $ 3,156,900 Direct labor (236,000 hrs. @ $9.75 per hr.) 2,301,000 Fixed factory overhead costs 2,092,830 Variable factory overhead costs 1,959,245 Total actual costs $ 9,509,975

5.value: 4.28 pointsRequired information Required: 1. Compute the direct materials cost variance, including its price and quantity variances. ReferenceseBook & Resources Expanded tableLearning Objective: 21-P2 Compute materials and labor variances. Difficulty: 3 HardLearning Objective: 21-P3 Compute overhead controllable and volume variances. Check my work

6.value: 4.28 pointsRequired information 2. Compute the direct labor variance, including its rate and efficiency variances. ReferenceseBook & Resources Expanded tableLearning Objective: 21-P2 Compute materials and labor variances. Difficulty: 3 HardLearning Objective: 21-P3 Compute overhead controllable and volume variances. Check my work

7.value: 4.28 pointsRequired information 3. Compute the overhead controllable and volume variances. ReferenceseBook & Resources Expanded tableLearning Objective: 21-P2 Compute materials and labor variances. Difficulty: 3 HardLearning Objective: 21-P3 Compute overhead controllable and volume variances. Check my work