Trico Company set the following standard unit costs for its single product Direct materials (30 Ibs $4 80 per Ib ) $ 144 00 Direct labor (6 hrs $14 per hr ) 84 00 Factory overheadvariable (6 hrs $7 per hr ) 42 00 Factory overheadfixed (6 hrs $9 per hr ) 54 00 Total standard cost $ 324 00 The predetermined overhead rate is based on a planned operating volume of 80 of the productive capacity of 57,000 units per quarter The following flexible budget information is available Operating Levels 70 80 90 Production in units 39,900 45,600 51,300 Standard direct labor hours 239,400 273,600 307,800 Budgeted overhead Fixed factory overhead $ 2,462,400 $ 2,462,400 $ 2,462,400 Variable factory overhead $ 1,675,800 $ 1,915,200 $ 2,154,600 During the current quarter, the company operated at 90 of capacity and produced 51,300 units of product actual direct labor totaled 304,800 hours Units produced were assigned the following standard costs Direct materials (1,539,000 Ibs $4 80 per Ib ) $ 7,387,200 Direct labor (307,800 hrs $14 per hr ) 4,309,200 Factory overhead (307,800 hrs $16 per hr ) 4,924,800 Total standard cost $ 16,621,200 Actual costs incurred during the current quarter follow Direct materials (1,519,000 Ibs $7 30 per lb ) $ 11,088,700 Direct labor (304,800 hrs $13 00 per hr ) 3,962,400 Fixed factory overhead costs 2,337,000 Variable factory overhead costs 2,187,800 Total actual costs $ 19,575,900 Required Compute the direct materials cost varlance, Including its price and quantity variances Actual Cost Standard Cost Actual Standard price Standard Standard price Actual price Actual quantity 1,519 000 4 80 1,519 000 S 7 30 4 80 11,088,700 7 291 200 3,797 500 Direct materials price variance Direct materials quantity variance Total direct materials variance 3,707 500 2 Compute the direct labor cost variance, Including its rate and efficiency variances Actual Cost Standard Cost Actual hours Standare rate Standard hours Standard rate Actual rate Actual hours Direct labor rate variance Direct labor efficiency variance Total direct labor variance 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

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Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $4.80 per Ib.) $ 144.00 Direct labor (6

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


Direct materials (30 Ibs. @ $4.80 per Ib.)	$	144.00
Direct labor (6 hrs. @ $14 per hr.)		84.00
Factory overheadvariable (6 hrs. @ $7 per hr.)		42.00
Factory overheadfixed (6 hrs. @ $9 per hr.)		54.00
Total standard cost	$	324.00

The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 57,000 units per quarter. The following flexible budget information is available.

	Operating Levels
		70%		80%		90%
Production in units		39,900		45,600		51,300
Standard direct labor hours		239,400		273,600		307,800
Budgeted overhead
Fixed factory overhead	$	2,462,400	$	2,462,400	$	2,462,400
Variable factory overhead	$	1,675,800	$	1,915,200	$	2,154,600

During the current quarter, the company operated at 90% of capacity and produced 51,300 units of product; actual direct labor totaled 304,800 hours. Units produced were assigned the following standard costs.


Direct materials (1,539,000 Ibs. @ $4.80 per Ib.)	$	7,387,200
Direct labor (307,800 hrs. @ $14 per hr.)		4,309,200
Factory overhead (307,800 hrs. @ $16 per hr.)		4,924,800
Total standard cost	$	16,621,200

Actual costs incurred during the current quarter follow.


Direct materials (1,519,000 Ibs. @ $7.30 per lb.)	$	11,088,700
Direct labor (304,800 hrs. @ $13.00 per hr.)		3,962,400
Fixed factory overhead costs		2,337,000
Variable factory overhead costs		2,187,800
Total actual costs	$	19,575,900

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Required: . Compute the direct materials cost varlance, Including its price and quantity variances Actual Cost Standard Cost Actual Standard price Standard Standard price Actual price Actual quantity 1,519.000 4.80 1,519.000 S 7.30 4.80 11,088,700 7.291.200 3,797.500 Direct materials price variance Direct materials quantity variance Total direct materials variance 3,707.500 2. Compute the direct labor cost variance, Including its rate and efficiency variances Actual Cost Standard Cost Actual hours Standare rate Standard hours Standard rate Actual rate Actual hours Direct labor rate variance Direct labor efficiency variance Total direct labor variance 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