Trico Company set the following standard unit costs for its single product. Direct materials (30 lbs. @ $4.80 per Ib.) Direct labor hrs. @ $14 per hr.) Factory overhead-Variable (7 hrs. @ 56 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 64,000 units per quarter. The following flexible budget information is available. Operating Levels 701 sex 90% Production in units 44,800 51,200 57,600 Standard direct labor hours 313,600 358,400 403,200 Budgeted overhead Fixed factory overhead $3,225,600 $3,225,600 $3,225,600 Variable factory overhead $1,851,600 $2,250,400 $2,419,200 During the current quarter, the company operated at 90% of capacity and produced 57.600 units of product, actual direct labor totaled 400,200 hours Units produced were assigned the following standard costs Direct materials (1,728,000 tbs. 54.80 per tb.) Direct Labor (403, 200 hrs. 514 per hr.) Factory overhead (403,290 hrs. 515 per hr.) Total standard cost $ 8,294,400 5,644,800 6.643.000 $19,987,200 Actual costs incurred during the current quarter follow Direct materials (1,715,000 lbs. $6.30 per 10:) Direct labor (400,100 heu. 511.00 per kr.) Vixed factory overhead coats Variable factory overhead costs Total actual costs $10,304,500 4,402,200 2,813.800 2634,200 $20,554,700 Required: 1. Compute the direct materials cost vacance, including price and quantity ances 2. Compute the direct labor cost variance, including it and escency vances 3. Computer the overhead controlable and volume ances Complete this question by entering your answers in the tabs below 1 Cintre Real Variance Vue Computs the direct mattis cou are incredevance that was over and variance and decimallace Sendant Col Rey 2 > $10.500.5 Directes (1.715,00 ose 36 per 16.) Dior (400,00 51100) Fixed factory overhead Varahle factory word costs Total actual coste 2,113,000 2.6.200 520.654,00 Required 1. Compute the direct material con variance including price and quantity cances 2. Comoute the direct labor cost variance, including rate and efficiency ances 3. Compute the overhead controllable and volume variances Complete this question by entering your answers in the tabs below Rega Het RG2 Controle velu Variance Varance Compute the direct labor cost variance inding its rate and attice varices there any selecting for favor, unfavorable, and variance. Round a Standard Cost 5 Hoc Cortable Vernice > Actual costs incurred during the current quarter follow. Direct materials (1,715,000 lbs. $6.30 per lb.) Direct labor (400,200 hrs. @ $11.20 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,894,5ee 4,492,200 2,813,800 2,634,200 $20,654,700 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. Complete this question by entering your answers in the tabs below. Reg 3 Reqs Reg 2 Controllable Reg 4 Volume Variance Variance Compute the controllable variance Indicate the effect of each variance by electing for favorable, unfavorable, and no variance Controllable Variance Actual overhead Budgeted overhead Controllable variance & Reg2 Reg4 Volume Variance > Actual costs incurred during the current quarter follow. Direct materials (1,715,000 lbs. @ $6.30 per lb.) Direct labor (480, 200 hrs. @ $11.00 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $10,894,500 4,402,200 2,813,800 2,634,200 $20,654,700 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. Complete this question by entering your answers in the tabs below. Req3 Reg 1 Reg 2 Controllable Reg 4 Volume Variance 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 vanance