The following information applies to the questions displayed below.) Trico Company set the following standard unit costs for its single product. 3.75 points Direct materials (30 Ibs. @ $5.00 per Ib.) Direct labor 17 hrs. @ $ 14 per hr.) Factory overhead variable (7 hrs. $7 per hr.) Factory overhead fixed (7 hrs. $9 per hr.) Total standard cost $150.00 98.00 49.00 63.00 $360.00 eBook The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 61,000 units per quarter. The following flexible budget information is available. Print Operating Levels References 42,700 298,900 48,800 3 41,600 909 54,900 384,300 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $ 3,074,400 $3,074.400 $3.074.400 $2,092,300 $2,391,200 $2,690,100 During the current quarter, the company operated at 90% of capacity and produced 54,900 units of product; actual direct labor totaled 316,300 hours. Units produced were assigned the following standard costs. m on Direct materiala (1,647,000 Ibo. $5.00 per Ib.) Direct labor 384,300 hrs. $14 per hr.) Factory overhead (384,300 hrs. $16 per hr.) Total standard cost 5,380, 200 6,148,800 $19.764,000 Actual costs incurred during the current quarter follow. Direct materials (1,364,000 Iba. $7.80 per lb.) Direct labor 316, 300 hrs. @ $11.10 per hr.) Fixed factory overhead coats Variable factory overhead costs Total actual costs $10,639,200 3,510,930 2,348,400 2,742,200 $19, 240,730 Required: 1. Compute the direct materials cost variance, including its price and quantity variances. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost 2. Compute the direct labor cost variance, including its rate and efficiency variances. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance