Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. Direct labor (6 hrs. $4.80 per Ib.) $14 per hr.) $144.00 84.00 Factory overhead-Variable (6 hrs. $7 per hr.) Factory overhead-Fixed (6 hrs. $9 per hr.) 42.00 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. Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead Operating Levels 70% 39,900 239,400 80% 45,600 273,600 901 51,300 307,800 $2,462,400 $2,462,400 $2,462,400 $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.) Direct labor (307,800 hrs. 514 per hr.) Factory overhead (307,800 hrs. $16 per hr.) Total standard cost Actual costs incurred during the current quarter follow. Direct materials (1,519,000 Ibs. $7.30 per lb.) Direct labor (304,800 hrs. $13.00 per hr.) Fixed factory overhead costs Variable factory overhead costa $ 7,387,200 4,309,200 4,924,800 $16,621,200 $11,088,700 3,962,400 2,337,000 2,187,800