Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. $4.80 per Ib.) Direct labor (7 hrs. $14 per hr.) Factory overhead-variable (7 hrs. $6 per hr.) Factory overhead-fixed (7 hrs. $9 per hr.) Total standard cost $144.00 98.00 42.00 63.00 347.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 67,000 units per quarter. The following flexible budget information is available. 70% 46,900 328,300 erating Levels 808 53,600 375,200 908 Production in units Standard direct labor hours Budgeted overhead 60,300 422,100 Fixed Eactory overhead Variable factory overhead $3,376,800 $3,376,800 $3,376,800 $1,969,800 2,251,200 $2,532,600 During the current quarter, the company operated at 90% of capacity and produced 60,300 units of product, actual direct labor totaled 399,200 hours. Units produced were assigned the following standard costs. Direct materials 1,809,000 Ibs. $4.80 per 1. ) Direct labor (422,100 hrs. $14 per hr.) Factory overhead (422,100 hrs. $15 per hr.)6,331,500 Total standard cost $ 8,683,200 5, 909,400 $20, 924,100 Actual costs incurred during the current quarter follow Direct materials (1,711,000 Ibs. $6.30 per lb.) $10,779,300 Direct labor (399,200 hrs. $11.20 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs 4,471,040 2,813,700 3, 084,100 $21,148,140 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 AQ AP SQ SP 399,200 S 14.00 422,100 $ 6.00 5,588,800 2,532,600 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 0 0 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