Trico Company set the following standard unit costs for its single product. Direct materials (30 lbs. @ $5.50 per Ib.) Direct labor (7 hrs. @ $14 per hr.) Factory overhead-variable (7 hrs. @ $6 per hr.) Factory overhead-fixed (7 hrs. @ $12 per hr.) Total standard cost $165.00 98.00 42.00 84.00 $389.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 62,000 units per quarter. The following flexible budget information is available. Operating Levels 70% 80% 43, 400 49,600 303, 800 347,200 90% 55,800 390, 600 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $4,166, 400 $1,822,800 $4, 166, 400 $4, 166,400 $2,083,200 $2,343,600 During the current quarter, the company operated at 90% of capacity and produced 55,800 units of product; actual direct labor totaled 386,600 hours. Units produced were assigned the following standard costs. Direct materials (1,674,000 Ibs. @ $5.50 per Ib.) Direct labor (390, 600 hrs. @ $14 per hr.) Factory overhead (390, 600 hrs. @ $18 per hr.) Total standard cost $ 9,207,000 5, 468,400 7,030,800 $21,706, 200 Actual costs incurred during the current quarter follow. Direct materials (1,658,000 Ibs. @ $7.60 per lb.) Direct labor (386,600 hrs. @ $12.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $ 12, 600, 800 4,639,200 3,321,400 3,109,400 $23,670, 800 Actual costs incurred during the current quarter follow. Direct materials (1,658,000 Ibs. @ $7.60 per lb.) Direct labor (386,600 hrs. @ $12.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $12,600,800 4,639,200 3,321,400 3,109,400 $ 23,670, 800 Total actual costs $ 23,670,800 Required: 1. Compute the direct materials cost variance, including its price and quantity variances. Actual Cost Standard Cost $ 0 $ 0 $ 0 01 2. Compute the direct labor cost variance, including its rate and efficiency variances. Actual Cost Standard Cost $ 0 $ 0 01 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance