Trico Company set following standard unit costs for its single product.

The following information applies to the questions dispiayed below) Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. $4.40 per Ib.) Direct labor (6 hrs. @ %14 per hr.) Factory overhead-variable (6 hrs. $9 per hr.) Factory overhead-fixed (6 hrs. $12 per hr.) Total standard cost s 132.00 84.00 54.00 72- 5 342.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 55,000 units per quarter. The following flexible budget information is available 70% 38,500 80% 44,000 9o1 Production in units Standard direct labor hours Budgeted overhead 49,500 297,000 231,000 264, Fixed factory overhead 53,168,000 $3,168,0ge $3,168,000 Factory overhead-fixed (6 hrs. $12 per hr.) Total standard cost 72.00 $342.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 55.000 units per quarter. The following flexible budget information is available rating Levels 70% 38,580 231,000 80% 9e8 49, 500 297,800 5 3,168,000 $3,168,000 $3,168,000 2,079,000 $2,376,000 $2,673,90e Production in units Standard direct labor hours Budgeted overhead 44,000 264,000 Fixed factory overhead Variable factory overhead During the current quarter, the company operated at 90% of capacity and produced 49.500 units of product actual direct labor totaled 292000 hours Units produced were assigned the following standard costs Direct materials (1,485,000 Ibs. $4.40 per Ib Direct labor (297,000 hrs.$14 per he Factory overhead (297,000 hrs. 9 $21 per hr.) Total standard cos 6,534,800 4,158,000 337 000 16,929,000 Actual costs incurred during the current quarter follow During the current quarter, the company operated at 90% of capacity and produced 49,500 units of product actual direct labor totaled 292,000 hours. Units produced were assigned the following standard costs. Direct materials (1,485,ee0 Ibs. $4.40 per Ib.) 6,534,000 Direct labor (297,000 hrs. $14 per hr.) factory overhead (297,000 hrs. $21 per hr.) Total standard cost 4,158,0ee 6,237,e00 $16,929,e0e Actual costs incurred during the current quarter follow Direct materials (1,474,000 Ibs. $7.40 per 1b-) Direct labor (292,e00 hrs. $12.50 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actusl costs $10,907,600 3,650,000 3,014,700 2, 822, 300- $20,394,600 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 (a) Compute the variable overhead spending and efficiency variances (Round "cost per unit" and "rate per hour" answers to 2 decimal places.) AH Actual Hours SH Standard Hours AVR Actual Variable Rate SVR Standard Variable Rate Actual Variable OH Cost Flexible Budget Standard Cost (VOH applied) (b) Compute the fixed overhead spending and volume variances. (Round "cost per unit" and "rate per hour" answers to 2 de places.) AH- Actual Hours SH Standard Hours AFR Actual Fixed Rate SFR Standard Fixed Rate Actual Fixed OH Cost Budgeted Overhead Standard Cost (FOH applied) (c) Compute the total overhead controllable variance. Overhead Controllable Variance Total overhead controllable variance