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

Direct materials (30 Ibs. @ $4 per Ib.)	$	120.00
Direct labor (5 hrs. @ $14 per hr.)		70.00
Factory overheadVariable (5 hrs. @ $8 per hr.)		40.00
Factory overheadFixed (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.

	Operating Levels
		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 Ibs. @ $4 per Ib.)	$	6,480,000
Direct labor (270,000 hrs. @ $14 per hr.)		3,780,000
Factory overhead (270,000 hrs. @ $18 per hr.)		4,860,000
Total standard cost	$	15,120,000

Actual costs incurred during the current quarter follow.

Direct materials (1,615,000 Ibs. @ $4.10 per lb.)	$	6,621,500
Direct labor (265,000 hrs. @ $13.75 per hr.)		3,643,750
Fixed factory overhead costs		2,350,000
Variable factory overhead costs		2,200,000
Total actual costs	$	14,815,250

Problem 08-4A Computing materials, labor, and overhead variances LO P3, P4

Required: 1. Compute the direct materials cost variance, including its price and quantity variances. 2. Compute the direct labor cost variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances.

!!!NOTE!!!! - PLEASE SHOW THE ANSWERS IN DATA FORMAT/TABLE AND SHOW WORK IF APPLICABLE - THANK YOU SO MUCH!

Reg 2 Reg 1 Req 3 Volume Reg 3 Controllable Variance Variance Compute the direct materials cost variance, including its price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance. Round "Cost per unit" answers to two decimal places.) Standard Cost Actual Cost Actual quantity 1,615,000 $ 6,621,500 Actual price $ 4.10 $ 4.00 $ 0 $ 0 $ 0 Unfavorable $ 0 Favorable Unfavorable Req 1 Reg 2 Reg 3 Controllable Variance Req 3 Volume Variance Compute the direct labor cost variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance. Round "Cost per unit" answers to two decimal places.) Actual Cost Standard Cost $ 0 $ 0 $ Complete this question by entering your answers in the tabs below. Req3 Req 1 Reg 2 Controllable Req 3 Volume Variance Variance Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) Controllable Variance Actual overhead Budgeted overhead Controllable variance Reg 1 Reg 2 Reg 3 Controllable Variance Req 3 Volume Variance Compute the volume variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance