Trico Company set the following standard unit costs for its single product. Direct materials (30 lbs. @ $5.10 per Ib.) Direct labor (6 hrs. @ $15 per hr.) Factory overhead-Variable (6 hrs. @ $7 per hr.) Factory overhead-Fixed (6 hrs. @ $11 per hr.) Total standard cost $153.00 90.00 42.00 66.00 $351.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 56,000 units per quarter. The following flexible budget information is available. Operating Levels 705 800 900 39,200 44,800 50, 400 235, 200 268, 800 302.400 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead variable factory overhead $2,956,800 $2,956,800 $2,956,800 $1,646,400 $1,881,600 $2,116,800 During the current quarter, the company operated at 90% of capacity and produced 50,400 units of product, actual direct labor totaled 299,400 hours. Units produced were assigned the following standard costs. Direct materials (1,512,000 lbs. $.10 per b.) Direct labor (302,400 hrs. $15 per hr.) Factory overhead (302,400 hrs. $18 per hr.) Total standard cost $ 7,711,200 4,536,000 5,443,200 $17.690,400 Actual costs incurred during the current quarter follow. Operating Levels 701 BON 39,200 44,800 235,200 268,800 908 50,400 302,400 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $2,956,800 $2,956,800 $2,956,800 $1,646,400 $1,881,600 $2,116,800 During the current quarter, the company operated at 90% of capacity and produced 50,400 units of product, actual direct labor totaled 299,400 hours. Units produced were assigned the following standard costs. Direct materials (1,512,000 lbs. $5.10 per tb.) Direct labor (302,400 hrs. $15 per hr.) Factory overhead (302,400 hrs. # $16 per hr.) Total standard cost $ 7,711,200 4,536,000 5,443,200 $17.690,400 Actual costs incurred during the current quarter follow. Direct materials (1.499,000 thu. # $6.30 per 1b.) Direct labor (299,400 hes. . $12.50 per hr.) axed factory overhead conta Variable factory overhead conta Total actual conta 59,443,700 3,742,500 2,604,700 2.430,500 $18, 229,400 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 2 Chmut the warhearlinalo and unuma variance Now Required information ure the corect spot cost Varsance, Stowano enciency variances pute the overhead controllable and volume variances. plete this question by entering your answers in the tabs below. Reg 3 Reg2 Controllable Req 4 Volume Variance Varience ute the direct materials cost variance, including its price and quantity variances, (Indicate the effect of each variance by selecting for favorative, unfavorable, and ! al places) Actual Cost Standard Cost 5 5 of Reg 2 > 2. computer CITE DO Cost Vance, including its rate and emciency variances 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Raq Reg 1 Reg 4 Volume Rea 2 Controllable Variance Variance Compute the direct labor cost variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, al decimal places.) Actual Cost Standard Con 5 0 5 5 0 0 Regal Rondella Vitae Required information 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 Req 1 Reg 2 Controllable Req 4 Volume Variance Variance Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavo variance.) Controllable Variance Actual overhead Budgeted overhead Controllable variance 2. Compute the direct labor cost variance, including its rate and emciency vanances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req3 Req 1 Req 2 Controllable Req 4 Volume Variance Varianced Compute the volume variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and variance.) Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance