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

Direct Materials (30lbs @ $4 per lb.)..$120.00

Direct Labor (5hrs @ $14 per hr)..70.00

Factory Overhead variable (5hrs @ $8 per hr)..40.00

Factory Overhead fixed (5 hrs @ $10 per hr)..50.00

Total Standard Cost..$280.00

*The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 60,000 units per quarter. The following flexible budget information is available.

.70%.....................80%.................90%

Production in units..42,000.48,000.54,000

Standard direct labor hours..210,000..240,000..270,000

Budgeted overhead

Fixed factory overhead..$2,400,000..$2,400,000$2,400,000

Variable factory overhead..$1,680,000$1,920,000..$2,160,000

*During the current quarter, the company operated at 90% of capacity and produced 54,000 units of product; actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs:

Direct Materials (1,620,000 lbs @ $4 per lb.)..$6,480,000

Direct Labor (270,000 hrs @ $14 per hr)..3,780,000

Factory overhead (270,000 hrs @ $18 per hour)..4,860,000

Total Standard Cost..$15,120,000

*Actual costs incurred during the current quarter follow:

Direct Materials (1,615,000 lbs @ $4.10)..$6,621,500

Direct Labor (265,000 hrs @ $13.75)..3,643,750

Fixed factory overhead costs..2,350,000

Variable factory overhead costs..2,200,000

Total actual costs..$14,815,250

REQUIRED:

Compute the direct materials cost variance, including its price and quantity variances. Show work.

Compute the direct labor variance; including its rate and efficiency variance. Show work.

Compute the overhead controllable and volume variances. Show work.