[The following information applies to the questions displayed below.] Trico Company set the following standard unit costs for Its single product. Direct materials (26 lbs.@ $4 per lb.) Direct labor (8 hrs. $8 per hr.) Factory overhead-varlable (8 hrs. $5 per hr) Factory overhead-fixed (8 hrs. $7 per hr) 104.00 64.00 40.00 56.00 Total standard cost $264.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 70,000 units per quarter. The following flexible budget Information is avallable. Operating Levels 70% 49,000 392,000 90% Production In units Standard direct labor hours Budgeted overhead 80% 56,000 448,000 63,000 504,000 Fixed factory overhead Varlable factory overhead 3,136,000 3,136,000 3,136,000 $1,960,000 $2,240,000 $2,520,000 During the current quarter, the company operated at 90% of capacity and produced 63,000 units of product; actual direct labor totaled 500,000 hours. Units produced were assigned the following standard costs: Direct materials (1,638,000 lbs. $4 per lb.) Direct labor (504,000 hrs. $8 per hr.) Factory overhead (504,000 hrs. $12 per hr.) $ 6,552,000 4,032,000 6,048,000 Total standard cost $16,632,000 Actual costs Incurred during the current quarter follow Direct materials (1,633,000 lbs. $4.10 per lb.) Direct labor (500,000 hrs. ST.75 per hr) Flxed factory overhead costs Varlable factory overhead costs $ 6,695,300 3,875,000 4,433,962 4,150,943 Total actual costs $ 19,155,205